The Nevada Gaming Control Board has filed a civil enforcement action in Carson City District Court against Coinbase Financial Markets, Inc., seeking a judicial declaration and injunction to halt what the Board alleges is unlicensed wagering activity in violation of Nevada law.
According to the complaint, Coinbase—registered with the Commodity Futures Trading Commission as a Futures Commission Merchant—acts as an intermediary for customers trading regulated derivatives listed on a third‑party Designated Contract Market. Through its mobile app, Coinbase offers products described as “event contracts” to users in Nevada.
The Board asserts that offering sports‑related event contracts, or certain other event‑based derivatives, constitutes wagering activity under NRS 463.0193 and NRS 463.01962, and therefore requires a Nevada gaming license. Coinbase, the Board contends, is operating without the required authorization.
As a result, the Board alleges violations of NRS 463.160, NRS 463.350, NRS 465.086, and NRS 465.092, and is asking the court to prohibit Coinbase from continuing to offer these products in the state.
“The Board takes seriously its obligation to maintain a robust, well‑regulated gaming industry and to protect Nevada citizens. Yesterday’s action reinforces that commitment,” said Board Chairman Mike Dreitzer.
Nevada law declares the gaming industry to be vital to the state’s economy and public welfare, and mandates that all gaming activity be licensed, controlled, and supervised to protect public health, safety, morals, and good order.
