A defense team led by Nicole Saharsky, Jessica Whelan of the Nevada Attorney General's Office and Adam Hosmer-Henner of McDonald Carano helped fend off an injunction bid by Crypto.com, which was seeking to bar the state's gaming board and AG's office from pursuing enforcement actions stemming from the company's offering sports-related event contracts in the state. U.S. District Chief Judge Andrew Gordon in Las Vegas had previously granted an injunction to Crypto.com rival Kalshi, finding that the board was likely preempted by the Commodity Exchange Act from regulating Kalshi's event contracts, since the federal law gives the Commodity Futures Trading Commission exclusive jurisdiction over "swaps." But in the Crypto.com case, Gordon held this week that the company was unlikely to succeed in showing that its event contracts based on the outcome of live sporting events are swaps that fall under the CFTC's jurisdiction. The Mayer Brown team representing the gaming board alongside members of the AG's office included Andy Pincus, Matthew Bisanz, Rory Schneider, and Minh Nguyen-Dang. The McDonald Carano team represents the Nevada Resorts Association, which intervened in the case.
Reprinted with permission from the October 17th edition of The AmLaw Litigation Daily © 2025 ALM Properties, Inc. All rights reserved. Further duplication without permission is prohibited.