Crypto.comLegal
Where are Crypto.com’s event contracts available? 6 states with a case, tracked
Last checked against court dockets and filings · Updated
As of Oct 27, 2026, no order we found has switched off any Crypto.com event contracts and in 6 states a lawsuit or regulator’s action is live with nothing switched off. Each is checked against its docket and filings. States that have acted say their gambling law applies, and North American Derivatives Exchange, Inc. is a CFTC-designated contract market: a licensing dispute, not a tax ruling, and with no IRS guidance people file event contracts three common ways.
By Owen Monagan, Founder & CEOUpdated
Map
Every state, dated.
Every state sits in one of four groups. Select a state for where it stands and the filing behind it.
Crypto.com is run by North American Derivatives Exchange, Inc., a CFTC-designated contract market. Where a state order is in force, some kinds of market can be switched off for anyone located in that state while the rest keep trading.
Crypto.com, state by state
As of Oct 27, 2026Arizona
Being foughtCrypto.com’s operator is an intervenor plaintiff in the federal government’s case against Arizona, where the district court entered a preliminary injunction in May 2026. Arizona has asked the Ninth Circuit to vacate it as applied to sports contracts.
- Switched off
- 0
- A court order is in force. Crypto.com has to block these markets for anyone in the state.
- Ordered, on hold
- 0
- A court ordered a block, then paused it during the appeal. You can still trade here today.
- Being fought
- 6
- A lawsuit, ruling or cease-and-desist is live, but nothing is switched off.
- No action found
- 45
- We found no order, lawsuit or cease-and-desist against Crypto.com here.
Crypto.com event contracts, state by state. Its prediction contracts are offered on Crypto.com | Derivatives North America, the trade name of North American Derivatives Exchange, Inc., which the CFTC designated a contract market. In its 2026 court filings the same company also appears as OG or OG.com Prediction Markets. Each action below says which company it names. What a court or regulator has actually done, as it stands on the date above. Tiles are equal in size so a small state reads as clearly as a large one. The state list below holds the same data as text.
What changedSince Oct 27, 2026
Crypto.com cases: what changed since Oct 27, 2026?
No change for Crypto.com since Oct 8, 2026. The last one is below. Last checked Oct 27, 2026.
- Nothing changes for accounts yetThe Supreme Court moved Nevada’s response to the company’s petition to November 16. Filing
Lawsuits5 actions
What states have sued Crypto.com?
As of Oct 27, 2026, one states have taken Crypto.com to court. Two other things also get called suing Crypto.com, and only an order in force switches anything off.
- 01A state or city suesAn attorney general, a gaming regulator or a city goes to court. Only an order in force switches anything off.
- 02Crypto.com sues the state firstCrypto.com asks a federal court to stop a state’s officials enforcing state gambling law against it.
- 03A regulator acts on its ownA cease-and-desist letter or order, or a proposed fine. None of these switches anything off by itself.
| Date | State | Action | Status now | Filing |
|---|---|---|---|---|
| Apr 1, 2025 | Illinois | Cease-and-desist. Illinois Gaming Board: Cease-and-desist letter to Crypto.com directing it to stop what the Board called unlicensed sports wagering under Illinois law. | Being fought | Filing |
| May 2025 | Nevada | Cease-and-desist. Nevada Gaming Control Board: Ordered the company to stop offering event-based contracts on sporting events in Nevada, according to the company’s Supreme Court petition. | Being fought | Filing |
| Apr 23, 2026 | Wisconsin | Lawsuit. Wisconsin Department of Justice: Suit against Foris DAX Markets, Inc. and North American Derivatives Exchange, Inc. asking the court to declare that making sports-related event contracts available to customers in Wisconsin is commercial gambling and a public nuisance, and to enjoin it. Dane County Circuit Court | Being fought | Filing |
| Sep 10, 2026 | Connecticut | Cease-and-desist. Department of Consumer Protection: Named Crypto.com among nine prediction markets ordered to stop offering sports event contracts to Connecticut residents, per the governor’s announcement. | Being fought | Filing |
| Sep 16, 2026 | Missouri | Cease-and-desist. Missouri Attorney General: Cease-and-desist letter to Foris DAX, Inc., which it calls Crypto.com: stop offering sports wagering in Missouri or obtain a Missouri Gaming Commission license, and confirm within thirty days. | Being fought | Filing |
Where Crypto.com went to court first
| State | Case | Docket |
|---|---|---|
| Arizona | Intervenor plaintiff in the suit the United States and the CFTC brought against Arizona officials, as Arizona’s Ninth Circuit motion lists the partiesU.S. District Court, D. Ariz. | Docket |
| Illinois | Intervenor plaintiff in the suit the United States and the CFTC brought against Illinois and Illinois officialsU.S. District Court, N.D. Ill., No. 1:26-cv-03659 | Docket |
| Nevada | Suit against Nevada officials asking the court to declare that federal commodities law preempts Nevada law as applied to its sports event contracts; a preliminary injunction was denied and the Ninth Circuit affirmedU.S. District Court, D. Nev., No. 2:25-cv-00978 | Docket |
Whether federal commodities law preempts state gambling law is being argued in suits by venues, states and the CFTC. Prediction market legal status by state sets every venue’s cases side by side.
Your money
What these orders mean for your account.
An order stops new trades in the markets it covers. Where an order or agreement also sets terms for open positions or cash, the state’s row quotes it.
Wherever you are
- The CFTC designated the exchange a contract market on February 18, 2004, under the name HedgeStreet, Inc. Its September 29, 2025 amended order names it North American Derivatives Exchange, Inc. d/b/a Crypto.com | Derivatives North America. Source
- The September 29, 2025 amended order lets the exchange offer margined futures cleared through registered futures commission merchants, and leaves its earlier order in force for fully collateralized futures, options on futures and swaps. Source
- The CFTC lists the exchange as designated and says Foris DAX Markets, Inc. acquired it in March 2022. Source
- SIPC doesn’t cover prediction-market accounts. It excludes commodity futures. Source
Courts
Where the courts stand on Crypto.com.
Whether federal commodities law preempts state gambling law is unresolved. Each federal appeals court with a Crypto.com case, and the Supreme Court dates ahead.
| Court | Ruling | Where it stands | Source |
|---|---|---|---|
| Third CircuitDE, NJ, PA | For Crypto.com | Ruled for Kalshi: it is likely to succeed in showing that federal law preempts New Jersey's ban on its sports contracts. (Apr 6, 2026) | Opinion |
| Ninth CircuitAK, AZ, CA, HI, ID, MT, NV, OR, WA | For the states | Ruled for Nevada: sports contracts likely aren't swaps, so states can enforce. Kalshi has asked the full court to rehear the case. (Aug 28, 2026) | Opinion |
| Fourth CircuitMD, NC, SC, VA, WV | No decision yet | Heard Maryland's case May 7, 2026. No decision yet. | Docket |
| Sixth CircuitKY, MI, OH, TN | For the states | Ruled for Ohio and Tennessee: Kalshi hasn't shown its sports contracts are swaps, and even if they were, federal commodities law doesn't preempt the states' gambling laws. Kalshi asked the full court to rehear on Oct 9, 2026. (Sep 25, 2026) | Opinion |
| Tenth CircuitCO, KS, NM, OK, UT, WY | No decision yet | Refused on Sep 8, 2026 to pause Utah's win while Kalshi appeals. The appeal itself is pending. | Docket |
| Second CircuitCT, NY, VT | No decision yet | Hearing Kalshi's appeals from New York (No. 26-1835) and Connecticut (No. 26-2239) in tandem. New York's brief is due Oct 30, 2026. | Docket |
| Seventh CircuitIL, IN, WI | No decision yet | No ruling on Kalshi yet. Appeals from the CFTC's suit against Wisconsin were docketed in August 2026. | Docket |
| Eighth CircuitAR, IA, MN, MO, NE, ND, SD | No decision yet | Kalshi appealed Iowa's win on Sep 15, 2026 (No. 26-2874). No decision yet. | Docket |
Crypto.com at the Supreme Court
Who gets to regulate sports contracts on a federally registered exchange: only the federal regulator, or the states too? The Court is being asked whether federal commodities law preempts state gambling laws, not whether anyone must stop, and not how the trades are taxed.
- No. 26-299Filed Sep 2, 2026Flaherty v. KalshiEXNew Jersey (state gaming regulators). From the Third Circuit, No. 25-1922, which ruled for Kalshi on Apr 6, 2026.Kalshi's response is due Nov 9, 2026, extended at Kalshi's request from Oct 8. Briefs backing New Jersey's side have come from Ohio, 38 other states and the District of Columbia (Oct 7), and more amicus briefs followed on Oct 8, including from the NFL, the American Gaming Association and 145 tribes.Docket
- No. 26-338Filed Sep 10, 2026Robinhood Derivatives v. DreitzerRobinhood (a broker offering Kalshi's contracts). From the Ninth Circuit, No. 25-7831, which ruled for Nevada on Aug 28, 2026.Nevada's response is due Nov 13, 2026, extended from Oct 14.Docket
- No. 26-344Filed Sep 11, 2026North American Derivatives Exchange v. NevadaCrypto.com (North American Derivatives Exchange, Inc.). From the Ninth Circuit, No. 25-7187, which ruled for Nevada on Aug 28, 2026.Nevada's response is due Nov 16, 2026, extended at Nevada's request from Oct 15.Docket
Crypto.com case dates ahead
Why there is more than one way to file
Federal appeals courts are split over whether these contracts are gambling that a state can license or exchange products that only the CFTC regulates. A ruling on state licensing is not a tax ruling, and the IRS has issued no guidance on event contracts. Because no court or agency has settled what these contracts are, people file them more than one way. Of the people we’ve seen file, these are the three most common ways, and Realize supports each of them. The same trades can be priced under each route, side by side.
| Route | Form | What it does |
|---|---|---|
| Gambling income, section 165(d) | Schedule 1; losses on Schedule A | Winnings are reported in full. Losses can be deducted only if you itemize, at 90% of losses and capped at winnings (tax years beginning after Dec 31, 2025). |
| Standard capital gains | Form 8949 and Schedule D | Each closed contract is a sale. Gain or loss is short or long term by holding period, and net losses can offset other gains. |
| Section 1256 | Form 6781 | 60% of the net gain or loss is treated as long term and 40% as short term. Open positions are marked to market at year end, and a net loss can be carried back three years. |
How prediction market trades are taxedPrediction-market lawsuits, state by state
Realize’s Supreme Court tracker follows the petitions asking whether federal commodities law preempts state gambling law.
State by state6 states with a case
Every state with a Crypto.com case.
Each state with a case, in its group as of Oct 27, 2026. Every filing behind them is in the sources below.
| State | Group | Where it stands |
|---|---|---|
| Arizona | Being fought | Crypto.com’s operator is an intervenor plaintiff in the federal government’s case against Arizona, where the district court entered a preliminary injunction in May 2026. Arizona has asked the Ninth Circuit to vacate it as applied to sports contracts. |
| Connecticut | Being fought | In September 2026 Connecticut named Crypto.com among nine prediction markets it ordered to stop offering sports contracts. We have not seen the order sent to Crypto.com. |
| Illinois | Being fought | Illinois’s Gaming Board sent Crypto.com a cease-and-desist letter in April 2025. Crypto.com’s operator is an intervenor plaintiff in the federal government’s suit against Illinois, where a federal judge granted the injunction requests in part on October 2, 2026. |
| Missouri | Being fought | Missouri’s attorney general sent Crypto.com a cease-and-desist letter in September 2026, addressed to Foris DAX, Inc. A letter is not a court order. |
| Nevada | Being fought | A federal court refused Crypto.com’s operator an injunction against Nevada, the Ninth Circuit affirmed in August 2026, and its Supreme Court petition is pending. Nevada’s attorney general says Crypto.com has stopped offering sports, election and entertainment contracts to Nevada residents. |
| Wisconsin | Being fought | Wisconsin sued Crypto.com’s companies in state court in April 2026. We found no order in force against them. |
Questions4 questions
Questions people ask about Crypto.com’s legal status.
Short answers, from the status file as of Oct 27, 2026.
Is Crypto.com legal in my state?
As of Oct 27, 2026, Crypto.com faces a lawsuit, order or cease-and-desist in 6 states. In the other 6 states with a case, nothing is switched off, and in every state not listed we found no order, lawsuit or cease-and-desist.
Which states have sued Crypto.com?
As of Oct 27, 2026, officials or a city in one states have sued Crypto.com: Wisconsin. A lawsuit alone switches nothing off; only an order in force does.
Has the Supreme Court taken a Crypto.com case?
Not as of Oct 27, 2026. Three petitions ask it whether federal commodities law preempts state gambling law, and none has been granted. The next date on the docket is Nov 9, 2026: Kalshi's response to New Jersey's petition is due.
How current is this page?
We check Crypto.com’s cases against court dockets and filings, and the last check was Oct 27, 2026. Changes since Oct 27, 2026 are listed newest first, each with the filing it comes from, so you can read the docket yourself.
Sources28 documents
Where each status comes from.
Primary documents first, each with the date we last read it. Where we keep a copy of a filing, it is linked beside the original.
- Arizona's motion to vacate the preliminary injunction as to sports contracts U.S. Court of Appeals for the Ninth Circuit · Checked October 27, 2026Our copy
- Connecticut governor’s office release, “Governor Lamont announces new actions against illegal prediction markets offering sports wagers” Connecticut Governor · Checked October 27, 2026
- Illinois Gaming Board cease-and-desist letter to Crypto.com Illinois Gaming Board · Checked October 27, 2026Our copy
- Illinois Gaming Board, sports wagering cease-and-desist letters Illinois Gaming Board · Checked October 27, 2026
- Memorandum opinion and order on the preliminary injunction motions U.S. District Court for the Northern District of Illinois · Checked October 27, 2026Our copy
- Missouri Attorney General’s cease-and-desist letter to Foris DAX, Inc. (“Crypto.com”) Missouri Attorney General · Checked October 27, 2026Our copy
- Missouri Attorney General release, “Hanaway orders unlicensed prediction markets to cease and desist unlawful sports wagering” Missouri Attorney General · Checked October 27, 2026
- Crypto.com, Prediction page disclaimer Crypto.com · Checked October 27, 2026
Show all 28 documentsShow fewer
- North American Derivatives Exchange (Crypto.com) v. Nevada, petition for a writ of certiorari Crypto.com (North American Derivatives Exchange) · Checked October 27, 2026Our copy
- North American Derivatives Exchange, Inc. v. State of Nevada, Ninth Circuit memorandum disposition U.S. Court of Appeals for the Ninth Circuit · Checked October 27, 2026Our copy
- Supreme Court docket, No. 26-344 Supreme Court of the United States · Checked October 27, 2026
- Attorney General Ford announces preliminary injunction in prediction market case Nevada Attorney General · Checked October 27, 2026
- Complaint, State of Wisconsin v. Foris DAX Markets, Inc. and North American Derivatives Exchange, Inc., Dane County Circuit Court Wisconsin Department of Justice · Checked October 27, 2026Our copy
- Wisconsin DOJ press release on its suits against event-contract platforms Wisconsin Department of Justice · Checked October 27, 2026Our copy
- Decision and order denying the CFTC's preliminary injunction, United States v. Wisconsin, ECF 54 U.S. District Court for the Eastern District of Wisconsin · Checked October 27, 2026Our copy
- CFTC, Amended Order of Designation: In the Matter of the Petition of North American Derivatives Exchange, Inc. to Amend Its Order of Designation Commodity Futures Trading Commission · Checked October 27, 2026Our copy
- CFTC, Designated Contract Markets list: North American Derivatives Exchange, Inc., Designated, 02/18/2004 (filings page 34536) Commodity Futures Trading Commission · Checked October 27, 2026
- What SIPC protects SIPC · Checked September 23, 2026
- KalshiEX v. Flaherty, precedential opinion U.S. Court of Appeals for the Third Circuit · Checked October 8, 2026Our copy
- KalshiEX v. Assad, Ninth Circuit opinion U.S. Court of Appeals for the Ninth Circuit · Checked October 8, 2026Our copy
- KalshiEX v. Martin, docket U.S. Court of Appeals for the Fourth Circuit · Checked October 8, 2026
- KalshiEX v. Schuler, opinion (Ohio and Tennessee) U.S. Court of Appeals for the Sixth Circuit · Checked October 12, 2026Our copy
- KalshiEX v. Cox, docket U.S. Court of Appeals for the Tenth Circuit · Checked October 8, 2026
- KalshiEX v. Williams, docket U.S. Court of Appeals for the Second Circuit · Checked October 8, 2026
- United States v. State of Wisconsin, docket U.S. District Court for the Eastern District of Wisconsin · Checked October 22, 2026
- KalshiEX v. Bird, docket U.S. District Court for the Southern District of Iowa · Checked October 8, 2026
- Supreme Court docket, No. 26-299 Supreme Court of the United States · Checked October 12, 2026
- Supreme Court docket, No. 26-338 Supreme Court of the United States · Checked October 12, 2026
Also on Realize
At tax time.
An order changes where Crypto.com offers a market.
Price your Crypto.com year three common ways.
Enter a Crypto.com net result for a federal range under each common route.