nevada

Coinbase Chief Legal Officer Paul Grewal stated on the X platform that the U.S. Congress has granted the Commodity Futures Trading Commission (CFTC) exclusive jurisdiction over the launch of related prediction market contracts. The latest news is that a federal court hearing in Nevada has been scheduled for next week, and he also expressed gratitude for the handling of the relevant court matters.Paul Grewal previously stated that Nevada regulators attempted to unilaterally prevent the launch of any prediction market event contracts without giving Coinbase an opportunity to defend itself, and that due process should at least include the opportunity to obtain a hearing.

A local court in Nevada, USA, has rejected the state regulator's request for an emergency ban on Coinbase's operation of prediction markets.The Nevada Gaming Control Board had previously filed a lawsuit, accusing Coinbase of offering unlicensed sports event contract betting products in the state and seeking a temporary restraining order. The court did not approve the emergency injunction but instead decided to hold a hearing next week, allowing Coinbase to respond. Coinbase's Chief Legal Officer Paul Grewal stated that the company has simultaneously filed a lawsuit in the state's federal court, claiming that the Commodity Exchange Act grants the Commodity Futures Trading Commission (CFTC) "exclusive jurisdiction" over swaps and event contracts listed on regulated exchanges, and that the state regulator's attempt to classify these tools as state-level gambling conflicts with the federal derivatives regulatory framework.

According to Cointelegraph, a local court in Nevada, USA, has dismissed the request from state regulators to urgently prohibit Coinbase from operating prediction markets.The Nevada Gaming Control Board previously filed a lawsuit, accusing Coinbase of offering unlicensed sports event betting products in the state and seeking a temporary restraining order. The court did not approve the emergency injunction but decided to hold a hearing next week, allowing Coinbase to respond. Coinbase's Chief Legal Officer Paul Grewal stated that the company has simultaneously filed a lawsuit in the state's federal court, asserting that the Commodity Exchange Act grants the Commodity Futures Trading Commission (CFTC) "exclusive jurisdiction" over swaps and event contracts listed on regulated exchanges, and that the state regulators' attempt to classify these tools as state-level gambling conflicts with the federal derivatives regulatory framework.

Coinbase Chief Legal Officer Paul Grewal posted on the X platform that the Nevada Gaming Control Board previously sought support from a Nevada court to unilaterally block it from launching any sports-related or other types of activity contracts in Nevada without providing an opportunity for debate. Today, the court rejected this request.Coinbase Chief Legal Officer Paul Grewal argued that due process requires at least an opportunity to obtain a hearing.

The Nevada Gaming Control Board has filed a civil enforcement lawsuit in the First Judicial District Court of Nevada, accusing Coinbase of providing unlicensed sports event contract betting services through its Coinbase Financial Markets division. The documents show that the regulator is also requesting the court to issue a temporary restraining order and a preliminary injunction, requiring Coinbase to cease "operating a derivatives exchange and prediction market related to sports betting" in Nevada.Mike Dreitzer, Chairman of the Nevada Gaming Control Board, stated that this move aims to fulfill regulatory responsibilities and protect the order of the local gaming industry as well as the interests of residents in the state. This lawsuit comes less than a week after Coinbase announced a partnership with Kalshi to launch prediction market services in all 50 states. Although Kalshi is regulated at the federal level by the Commodity Futures Trading Commission, state-level regulators can still challenge related businesses legally.Additionally, Nevada has recently taken similar action against Polymarket, with the court previously approving a temporary restraining order prohibiting it from offering event-based contract betting to residents in the state. The related cases are also seen as potentially challenging the federal regulatory authority over prediction markets.

A Nevada court in the United States issued a temporary restraining order against Polymarket, prohibiting the entity behind Polymarket, Blockratize, from offering event-based contracts in the state for a period of two weeks. The court found that Polymarket's activities might violate Nevada's gaming laws and are not protected by federal derivatives regulations.

The prediction market platform Kalshi lost its preliminary injunction to block enforcement by Nevada regulators on the eve of Thanksgiving and is currently seeking to continue blocking state regulatory actions during the appeal in court. The court's lifting of the injunction means that Kalshi faces potential legal risks if it continues to operate in Nevada. Similar to Polymarket, Kalshi offers prediction contracts covering sports, politics, crypto, and traditional markets, believing that obtaining a CFTC license allows it to operate in all 50 states, but some state regulators—especially in Nevada—disagree.After the lifting of the injunction, Nevada regulators stated that they would not immediately initiate enforcement actions until the court decides whether to approve a stay of enforcement, but this does not equate to an administrative exemption granted by the court. The court has required state regulators to respond to Kalshi's application by December 8, and Kalshi may submit a reply by December 12.Reports indicate that as Kalshi engages in negotiations with regulators in multiple states, the platform's trading volume has rapidly increased, and its valuation has risen to $11 billion in a funding round led by Sequoia. Certuity predicts that the prediction market size could reach $95.5 billion by 2035. Nevada regulators have accused Kalshi of "continuing to engage in illegal activities" without a state gaming license and emphasized that both Crypto.com and Robinhood have agreed to suspend local operations during the appeal. Crypto.com did not receive extended injunction protection, and its prediction market operations in Nevada have been suspended.

ChainCatcher news, on October 22, Nevada regulators issued a cease-and-desist order against the cryptocurrency custody company Fortress Trust (now renamed Elemental Financial Technologies Inc.).According to court documents, the company is currently on the brink of bankruptcy, facing a significant mismatch between assets and liabilities. The regulators explicitly stated in the order that Fortress's liquidity situation is "completely insufficient to meet customer obligations."

ChainCatcher news, according to a16z's official blog, the top American venture capital firm a16z announced that it will relocate the registered office of its main business entity, AH Capital Management, from Delaware to Nevada.The three partners of the firm jointly wrote that the Delaware Chancery Court's recent rulings have become increasingly subjective, undermining the business community's trust in its "gold standard" judicial system. a16z emphasized that it will continue to invest in Delaware-registered companies but believes that tech founders should reassess their choice of registration location.

ChainCatcher news, according to market news, Truth Social has registered a Bitcoin and Ethereum ETF in Nevada.

ChainCatcher news, according to The Block, the Federal Trade Commission (FTC) and the state of Nevada have filed a lawsuit against a company named "IML," accusing it of $1.2 billion in fraud. The company provides investment training services in cryptocurrency, binary options, foreign exchange, and stock markets for young investors.According to the lawsuit documents, IML falsely advertised investment returns while attracting consumers. In reality, the company was aware that its salespeople either incurred losses or earned very little, with only one-fifth of them able to make more than $500.

ChainCatcher news, according to Kalshi founder Tarek Mansour, the U.S. District Court for Nevada has approved the preliminary injunction application of the prediction market platform Kalshi, preventing the state government from intervening in Kalshi's provision of prediction market services. Kalshi expressed gratitude for the court's careful consideration and recognition of its status as a CFTC (Commodity Futures Trading Commission) regulated exchange.

ChainCatcher news, according to The Block, the prediction market platform Kalshi has filed a lawsuit against the gambling regulators of Nevada and New Jersey after receiving a cease-and-desist order from them. The regulators demanded that Kalshi stop offering sports-related contracts, arguing that such activities constitute sports betting, which can only be provided by entities licensed by the state.Kalshi argues in the lawsuit that, as an exchange regulated by the Commodity Futures Trading Commission (CFTC), it should be exclusively regulated by the federal government, and the Commodity Exchange Act takes precedence over state laws. The Nevada Gaming Control Board believes that Kalshi's contracts constitute gambling because the payouts are entirely dependent on the outcomes of external events, rather than the actions of the contract participants.Kalshi's CEO Tarek Mansour stated that prediction markets are an important innovation of the 21st century, and the company will defend this technology in court. The core of the dispute is whether event-based or sports-related contract trading constitutes gambling regulated by state governments or falls under the exclusive regulation of federal authorities as financial derivatives trading.ChainCatcher previously reported that New Jersey regulators have demanded Robinhood and Kalshi to cease providing sports betting services.

ChainCatcher news, according to Cointelegraph, Nevada Secretary of State Francisco Aguilar announced the introduction of blockchain technology into the state's election certification process to ensure the fairness of future elections.Aguilar stated in a press release that the state is "committed to holding the safest elections in the nation," and that blockchain technology is an essential part of these efforts. Currently, there are few details about the implementation, and it is unclear whether the state has developed a proprietary blockchain or is using existing commercial or open-source blockchain technology.

ChainCatcher news, according to the Associated Press, all polling places in Nevada's largest county, the last swing state in the U.S., have now closed. With 4% of the expected votes counted, Trump has received 71.5% support, while Harris has received 26.8% support.

ChainCatcher news, according to Jinshi reports, based on a poll by The New York Times and Siena College, as the U.S. election approaches, Vice President Kamala Harris and Republican Donald Trump are in a deadlock in key swing states.Currently, Harris has a slight lead over Trump in Nevada, North Carolina, and Wisconsin, while Trump maintains an advantage in Arizona and has erased Harris's lead in Pennsylvania.

ChainCatcher news, U.S. Vice President Harris will attend a rally in Nevada on October 31.

ChainCatcher news, according to IBTimes, based on data from Polymarket, Trump secured Nevada later on Wednesday (51% to 49%), and as of early Thursday, he still leads Harris in all the swing states tracked by the decentralized market prediction platform.It is noteworthy that Nevada was once a Republican-leaning state but has shifted to support the Democratic Party in recent years. Current trends indicate that the state may swing back to the Republican Party. Additionally, Nevada is considered one of the most "unpredictable" swing states in this year's election.Last year, the state showed great interest in cryptocurrency. The independent voters and multilingual environment in Nevada add uncertainty to the election, potentially becoming one of the key factors in determining the election outcome.

ChainCatcher news, according to Watcher.Guru's disclosure on social media X, X has obtained a money transmission license for payment services in Nevada.Previously, according to the NMLS website, the social media platform X (formerly Twitter) obtained a money transmission license in Rhode Island on August 28. This license will allow X to provide virtual asset-related services for its large user base, such as storing, transferring, and trading digital assets.

ChainCatcher news, a recent report released by CoinGecko shows that Nevada, where Las Vegas is located, is the state in the U.S. most interested in Bitcoin ETFs.