Crypto.com's proposal to continue sports betting rejected by the Nevada judge -

A judge of the Federal Court of Nevada rejected the application for the injunction of Crypto.com allowing him to manage sports contracts.

Judge Andrew Gordon refused the injunction that would have enabled the company to continue to exploit contracts for state sporting events. This surprises the sector, since the Kalshi prediction market has been authorized to operate very similar services.

The Nevada Gaming Control Board for the first time prohibited Crypto.com of sports results contracts in June 2025, declaring that these contracts must be classified as Swaps regulated by the federal government, rather than as play products. This has placed them under the powers of the CFTC.

Crypto.com against Kalshi in Nevada

Although judge Gordon agreed that the CFTC was competent in the case of Kalshi, he did not apply the same argument to Crypto.com. Instead, the judge argued that Crypto.com sports prediction contracts are based on the results of sporting events rather than on their occurrence or non-care.

New: a federal judge of Nevada officially explains that, because the contracts of sports forecasts are based on the “results” of sporting events rather than on their “occurrence” or their “non-competition”, they are not considered as “exchanges” under the CEA. pic.twitter.com/rrmyytb2zc

-Daniel wallach (@wallachlegal) October 6, 2025

“I consider the” result “as different from” the occurrence, non-competition or the extent of the possibility of the occurrence “, said Judge Gordon, according to the judicial archives. “These are simply different things. If they were all the same, everything would be an exchange, and it is not, I think, what the Congress wanted or what the CFTC wanted.”

This means that they are not considered swaps under the Commodity Exchange Act (CEA). Crypto.com intends to appeal the decision of judge Gordon before the ninth circuit. This could be due to the fact that the CFTC undergoes increasing pressure from traditional sports betting operators to decide whether such sports contracts are legal or not, this decision being still pending.

Competition to conclude sports contracts is intensifying, and Polymarket also takes its first steps to launch legal sports betting options. This situation arouses concerns among regulators – but does not seem to want to slow down so early.

Image presented: Wikimedia Commons, under license CC by-SA 4.0

The post-crypto.com offer aimed at continuing sports betting rejected by the Nevada judge appears first on Readwrite.

[og_img]