LAS VEGAS (KTNV) — Another prediction market has been blocked from doing business in Nevada.
On Friday, Judge Jason Woodbury issued a preliminary injunction against Blockratize, which is the parent company and corporate owner of Polymarket.
"We are very pleased with Judge Woodbury's ruling and will continue to vigorously enforce Nevada law to safeguard gaming in our state," Nevada Gaming Control Board Chairman Mike Dreitzer stated in a press release.
This is not the first company to face injunctions in Nevada.
In February, the Ninth Circuit Court of Appeals ruled in favor of the Nevada Gaming Control Board that prediction market Kalshi can be banned from offering sports contracts in Nevada.
In addition to that, Nevada Attorney General Aaron Ford filed a civil enforcement action in Carson City District Court to try to completely block Kalshi from operating in Nevada. In April, Judge Woodbury agreed to bar the company from offering sports, elections, and entertainment contracts unless they get a gaming license.
The Nevada Gaming Control Board has repeatedly stated they believe offering sports event contracts, along with certain other event contracts, constitutes wagering activity under state law and as such, must be licensed in Nevada.
Companies that associate with prediction markets could also be scrutinized, if they allow sports and other event contracts on those platforms.
In October, the Nevada Gaming Control Board sent a notice to licensees stating that sports event contracts are wagers.
"If a Nevada licensee chooses to offer Sports and Other Event Contracts in Nevada or decides to partner with other entities offering Sports and. Other Event Contracts in the state, the Board will consider these developments as it evaluates the suitability of the entity to maintain a Nevada gaming license," the notice reads in part. "Moreover, if a licensee offers Sports and Other Event Contracts in another state without complying with the other state's restrictions, prohibitions, or licensing regime; partners with another entity that engages in such activities; or acts in violation of a compacted tribal right, the licensee may be subject to discipline under the Gaming Control Act."
This may or may not have played a role in the Predict 2026 conference having their booking canceled at the ARIA Resort & Casino, according to a Barron's report.
The conference was "called off by the casino due to concerns that its gambling license could be jeopardized for hosting the conference," the article reads in part.
On the conference's website, you can see a statement explaining that due to that cancellation, the conference was moved from Las Vegas to New York City.
Nevada gaming regulators have disputed the claim that they put any pressure on conference organizers to cancel or move the event.
Meantime, Nevada is one of 16 states trying to block Kalshi from operating in their jurisdictions.
Just last month, Minnesota became the first state to outlaw Kalshi and other prediction market platforms. The law would make it a felony to operate or advertise prediction market services in Minnesota.
However, Kalshi is fighting back and has filed a lawsuit in federal court challenging the law. The company claims Minnesota is infringing on the Commodity Futures Trading Commission's "exclusive jurisdiction" over event contracts, including ones that are "traded on designated contract markets."
Federal authorities have filed lawsuits against other states over similar bans, including Arizona, Connecticut, Illinois, New York, and Rhode Island.
Last week, President Donald Trump said it is "critically important" for the CFTC to have exclusive authority over prediction markets and that his administration is "setting 'rules of the road' that are the Gold Standard for the States."
As we have previously reported, the Trump administration has personal interests in the outcome of these proceedings since Donald Trump Jr. is an investor and unpaid adviser to Kalshi and a paid adviser to Polymarket. His investment company, 1789 Capital, has also invested in Polymarket.
A filing with the Office of Management and Budget shows the White House is reviewing a CFTC proposal to regulate prediction markets. However, there are few details about the rule itself.
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