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Nevada court bars Polymarket sports contracts as states challenge prediction markets

Regulation

A Nevada federal court temporarily barred Polymarket from offering sports betting contracts in the state, according to a report. The report said several states and tribal groups have pursued legal action over whether prediction-market operators need state gambling licences, while the Commodity Futures Trading Commission has not formally taken a position.

The dispute tests whether prediction-market operators can offer sports contracts without state gambling licences.

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Regulation

Prediction market operators withdraw sports contracts across three US states

Coinbase agreed to end Michigan sports contract activity by 10 October. The agreement requires Coinbase to close outstanding positions while its appeal continues. The outlet also reported that Webull, Gemini and ProphetX exited Connecticut, while PrizePicks paused new sports prediction entries in Missouri but kept existing entries active.

Under a deal announced Wednesday, Coinbase will halt new sports event contracts in Michigan by Oct. 10, with every open position to be wound down by that date as well, the Michigan Gaming Control Board said in a press release. While the appeal proceeds, the company keeps its legal arguments intact, and Michigan pledged to hold off on enforcement so long as Coinbase stays within the restrictions.

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