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The Nevada Gaming Control Board (NGCB) has filed a civil enforcement action against cryptocurrency exchange Coinbase to restrict what the regulator calls unlicensed wagering in violation of state law.
The injunctive action was filed in the District Court for Carson City against the Commodity Futures Trading Commission (CFTC) regulated operator, reinforcing NGBC’s zero tolerance for federally regulated markets.
Coinbase is the most recent operator to face NGCB
The letter, from the office of Governor Joe Lombardo, is also co-signed by current ranking members Mike Dreitzer, Chair of the NGCB; Judge George Assad (Ret); and Chandeni K. Sendall.
“Nevada Gaming Control Board Files Civil Enforcement Action Against Coinbase”
Press release from NGCB: pic.twitter.com/mSSN6NlOZO
— Daniel Wallach (@WALLACHLEGAL) February 3, 2026
A key part of the NGBC’s pursuit of Coinbase is related to the regulator’s perception that the company “offers products referred to as event contracts for sale on its mobile app, which are made available to people in Nevada. The Board considers offering sports event contracts, or certain other event contracts, to constitute wagering activity under NRS 463.0193 and 463.01962 and, therefore, entities offering such event contracts must be licensed.”
NGCB takes infractions seriously, says Chair
“The Board takes seriously its obligation to operate a thriving gaming industry and to protect Nevada citizens. The action taken yesterday reinforces this obligation,” said Chairman Dreitzer.
In the legal docket published on the Nevada government website, the NGCB’s case is clear: Coinbase is not paying the required licensee fee.
“Entities conducting gaming activities in the State of Nevada must pay taxes on gross gaming revenue derived from gaming activities accessible in the State,” said Complaint 5. “Coinbase does not pay taxes on gross gaming revenue derived from gaming activities, including wagers, accessible in the State of Nevada.”
As we reported, Nevada has proved to be a decisive proving ground for prediction markets and the argument over federal and state-level oversight.
BREAKING: Nevada state court issues temporary restraining order against Polymarket over offering of event contracts, says that the CEA does not vest exclusive jurisdiction in the CFTC. TRO will remain in effect for 14 days; hearing on the PI motion scheduled for 2/11. pic.twitter.com/p1tRk38EMD
— Daniel Wallach (@WALLACHLEGAL) January 30, 2026
Polymarket recently faced a ruling by Judge Jason Woodbury, who ordered the company to be temporarily excluded from state contracts. The NGBC’s argument in this case was that Polymarket’s ability to offer event contracts violated the same gaming law.
Featured image: Coinbase / Canva
