We study the obstacle problem for the parabolic fractional \( p \)-Laplace equation \( ∂_tu + (−∆_p)^su = 0 \) in the degenerate range \( 2 < p < 2/(1 − s). \) We prove that viscosity solutions are locally Lipschitz continuous in space and Holder continuous in time. If, in addition, \( p > 1/(1 − s) \), the time regularity improves to Lipschitz continuity.