The Nevada Gaming Control Board has taken a new tactic in its fight against prediction markets.
The board announced Friday that it has filed a civil lawsuit in Carson City District Court against a company that offers a derivatives market in violation of state gambling laws.
The board alleges that Blockratize Inc., doing business as Polymarket, offers illegal sports betting through its prediction market.
In its complaint, the board asked the court for a declaration and an injunction to stop Polymarket from offering unlicensed betting in violation of Nevada law.
In the past, the board has issued cease-and-desist orders against prediction markets to try to shut them down, but they have been ineffective because the markets say they are regulated by the federal Commodity Futures Trading Commission, which they believe supersedes state laws, and the orders are ignored.
It is the second time a state has filed a lawsuit in state court against a prediction market. Massachusetts filed a similar lawsuit in state court in September against KalshiEx LLC, the same company that has sued Nevada after receiving a cease and desist order in March.
It is expected that Polymarket, like Kalshi in Massachusetts, may move to have the case heard in federal court.
Prediction markets sell futures contracts on current events and popular culture items, but early last year branched out into sports scores.
Several states that offer sports betting have filed similar complaints with the belief that states should regulate sports betting and not leave it to federal entities.
New Jersey record
Atlantic City casinos and New Jersey online casinos both contributed to a record year in 2025, with the latter making history in the Garden State.
For the first time ever, online casinos generated more annual gaming revenue than brick-and-mortar casinos in Atlantic City, according to new data released by the state Division of Gaming Enforcement. The state’s licensed Internet casino operators won more than $2.91 billion, a 22 percent increase from the 2024 total.
Atlantic City’s nine casinos won $2.89 billion from in-person players, up 2.7 percent from the previous year. It was the highest annual total reported by Atlantic City casinos since 2012, when there were 12 casinos in the beach resort.
Statewide total gaming revenue — the sum of land-based, online and sportsbook revenue — was a record $6.98 billion last year, up 10.8 percent from 2024.
Jim Plousis, chairman of the NJ Casino Control Commission, said last year’s success shows “that in-person and online gaming can succeed together.” He noted that gaming taxes topped $1 billion by 2025, with more than $800 million going to state programs for seniors and disabled residents.
“A successful gaming industry benefits all of New Jersey,” Plousis said in a statement. “It has sparked investment in Atlantic City’s convention, tourism and entertainment centers, created jobs and produced new economic activity across South Jersey.”
NCAA demand
The head of the NCAA has asked the federal government agency that regulates prediction markets to tell its members to stop selling contracts on collegiate sports results.
In a letter to Michael Selig, chairman of the Commodity Futures Trading Commission, NCAA President Charlie Baker urged the commission to prevent the sale of contracts based on college sports.
“I am asking you to shut down collegiate sports prediction markets until a more robust system with appropriate safeguards is in place,” Baker wrote in a Jan. 14 letter. “The NCAA is willing to work with the CFTC to develop such a system that protects student-athletes and consumers from harm.”
Baker cited the reluctance of prediction markets to limit minor participants and reported violations of advertising policies.
Baker also noted harassment of student athletes as a reason for the CFTC to restrict the trading of college games.
He said he is willing to work with the commission on a compromise.
More sports games
Several US states have taken steps to expand sports betting to their constituencies.
Casino operators in Nebraska have filed an initiative to add mobile sports betting to that state.
Legislation has been introduced in Mississippi to expand sports betting to include mobile gaming. If approved by lawmakers, existing licensees would be allowed to introduce sports betting apps in the state.
And in Georgia, lawmakers have introduced legislation for the Georgia Lottery to regulate up to 18 sports betting licenses in that state.
If approved, Georgia would become the 39th state in the United States to offer sports betting.
– Contact David Danzis at ddanzis@ theplayerlounge.com or 702-383-0378. Follow @AC2Vegas_Danzis on X.
