Crypto.com has suffered a significant defeat in the state of Nevada and will begin the process of freezing its sports events contracts.
The news comes as part of a lengthy legal battle between Sin City regulators and the predictions provider, which has, alongside other companies offering similar services, dominated betting headlines.
Crypto.com to stop offering sports event contracts in Nevada
As we reported, there is an established sports betting regulator in Nevada that has argued with state courts about the behavior and services of prediction providers.
Crypto.com and companies like Kalshi have argued that they fall under federal approval and existing legislation like the Commodity Exchange Act (CEA), against the pressure from state regulations.
The Commodity Futures Trading Commission (CFTC) has approved prediction providers to operate within a tight spectrum, but this is now the subject of court action in multiple states.
The green light from the CFTC led to predictions providers snapping up partnerships with federally approved entities, like Polymarket’s return to the US after cutting a deal with CFTC-approved clearing house QCX LLC.
Then the big betting companies took interest, and in the case of Crypto.com, they took a deal with Underdog to provide markets across sixteen states.
Crypto.com’s right to offer contracts frozen
This has now been successfully challenged by Nevada’s betting regulators in part, as reported on social media by The Nevada Independent’s Howard Stutz and legal expert Daniel Wallach.
Nevada scored a win against prediction markets. @NevadaGCB said that https://t.co/tBEHWxSgju, which was denied a preliminary injunction by the federal judge in a cease-and-desist lawsuit, will not offer sports event contracts in Nevada until the case is resolved.@TheNVIndy pic.twitter.com/t2YmTA5SGk
— Howard Stutz (@howardstutz) October 24, 2025
What this means for Crypto.com is that their attempts to persuade Judge Andrew P Gordon have gone unheard, and even though the company seeks to appeal that decision, they will no longer be able to offer event contracts until this is resolved.
Stutz shared the news that “after November 3, 2025, and until the resolution of its appeal, Crypto.com will not be offering sports event contracts to Nevada residents. That means Crypto.com will no longer hold open positions in sports event contracts for Nevada residents and will not permit new contracts to be opened.”
Predictions providers in the state will be bracing for a slew of other submissions against their right to operate in the middle of existing court action.
Further to this, the court decision was stern, saying sports events contracts can only be “conducted in Nevada only if the offering entity possesses a nonrestricted gaming license with sports pool approval in Nevada and meets the other requirements for sports wagering including, without limitation, wagering accounts and sports book systems.
Featured image: Canva / Crypto.com
