""The question of federal preemption in this regard is nuanced and rapidly evolving. At the moment, the balance of convincing legal authority weighs against federal preemption in this context.""
""The resulting harm in evasion of Nevada's 'comprehensive regulatory structure' and 'strict licensing standards' is immediate, irreparable, and not sufficiently remediable by compensatory damages,""
"Docket for Nevada Gaming's civil action against Polymarket in Nevada state court. Appears judge denied Nevada's request for temporary restraining order. @SSGamblers @WALLACHLEGAL @akhoya87 pic.twitter.com/GLcKIorlhA"
A temporary restraining order has been issued against Polymarket in Nevada, temporarily excluding the platform from state contracts. Judge Jason Woodbury ruled that prediction markets offering event contracts must comply with Nevada gaming law and found that current federal preemption authority weighs against Polymarket. The TRO lasts 14 days and preserves the status quo pending a ruling on a preliminary injunction. The judge stated that harm from evading Nevada's 'comprehensive regulatory structure' and 'strict licensing standards' is immediate, irreparable, and not sufficiently remediable by compensatory damages. Polymarket faces the same legal challenge that previously barred Kalshi and Crypto.com from Nevada sports contracts after lengthy litigation.
Read at ReadWrite
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