Crypto.com challenges Nevada order over sports event contracts
Crypto.com asked a Nevada federal court for a preliminary injunction last week, challenging a cease-and-desist order issued by the Nevada Gaming Control Board on 20 May. The board ordered the company to stop offering sports-outcome contracts, which it considers gambling subject to state licensing; Crypto.com argues they are federally regulated commodity derivatives.
The court dispute could determine whether Nevada can require state gambling licences for Crypto.com’s sports event contracts.