Crypto.com will suspend its sports prediction market operations in Nevada following a federal court ruling. The company has agreed with the Nevada Gaming Control Board (NGCB) to halt these activities while it pursues an appeal. The NGCB confirmed that the platform will stop offering sports event contracts to Nevada residents after 3 November 2025 and will remain inactive until the legal process is resolved.
Crypto.com entered the sports prediction market by offering contracts based on sports outcomes, placing it within a complex regulatory framework. Federally, the Commodity Futures Trading Commission (CFTC) classifies these contracts as derivatives. In contrast, Nevada law treats them as wagers, requiring a state-issued gaming licence.
In June 2025, the NGCB issued cease-and-desist letters to several platforms, including Crypto.com, for allegedly offering sports betting without proper licencing. Crypto.com responded by bringing a federal lawsuit, claiming that state regulation should be superseded by CFTC oversight, and asking for a preliminary injunction to prevent Nevada from implementing its gaming regulations.
Earlier this month, US District Judge Andrew P. Gordon denied Crypto.com’s request for a preliminary injunction. The court ruled that the platform’s sports contracts do not qualify as “swaps” under the Commodity Exchange Act and are therefore subject to Nevada’s gaming regulations. This decision differs from a prior ruling in favour of Kalshi, where similar contracts were granted federal protection.
The court found that Crypto.com’s contracts are based on the outcomes of sporting events, not their occurrence or non-occurrence, excluding them from federal swap classification. Following the ruling, Crypto.com and the NGCB agreed to suspend operations after 3 November 2025, while the company appeals to the Ninth Circuit Court of Appeals.
A CFTC-regulated contract market has voluntarily suspended its operations in Nevada to continue a legal appeal without facing regulatory penalties. As first reported by Howard Stutz of The Nevada Independent via Substack, this marks the first time such a market has halted activity in a single state.
The NGCB reaffirmed that sports event contracts, even those listed on CFTC-regulated exchanges, are considered wagering under state law. This includes bets on sports, entertainment events like the Oscars, esports, and political elections.
According to the notice, “The Board considers sports event contracts, or certain other event contracts, to constitute a wagering activity under state law. Wagering occurs whether the contract is listed on an exchange regulated by the Commodity Futures Trading Commission or elsewhere.”
NGCB Chair Kirk Hendrick and enforcement counsel Edward Dreitzer emphasised the Board’s role in maintaining the integrity and stability of Nevada’s gaming industry. They reiterated that the Board is responsible for protecting public welfare and ensuring fair competition.
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