Nevada judge temporarily blocks Kalshi from operating prediction market in state
KSL.com • • business
Key Points:
- A Nevada judge issued a temporary restraining order blocking prediction market operator Kalshi from offering event contracts related to sports, elections, and entertainment without a state license.
- The order came after the Nevada Gaming Control Board sued Kalshi, alleging the company's platform constituted unlicensed gambling under state law.
- Kalshi argued that its contracts fall under the Commodity Futures Trading Commission's jurisdiction, but the judge rejected this, affirming Nevada's authority to regulate such activities.
- This ruling follows similar legal challenges in Massachusetts and Arizona, where Kalshi faces injunctions and criminal charges for operating illegal gambling businesses.
- A hearing is scheduled for April 3 to determine whether a longer-term injunction against Kalshi will be issued in Nevada.
