Nevada legal battle against prediction markets it calls 'unlicensed sports gambling' is moving forward
NBC News • • general
Key Points:
- Nevada is actively pursuing legal action against prediction market platform Kalshi, accusing it of facilitating illegal sports betting, while Kalshi maintains it operates as a federally regulated financial exchange.
- The dispute centers on whether platforms like Kalshi and Polymarket fall under federal regulation by the Commodity Futures Trading Commission (CFTC) or state gambling laws, with the CFTC supporting federal oversight and Nevada asserting these are unregulated sportsbooks.
- Recent court developments include the Ninth Circuit denying Kalshi's request to block Nevada's civil action, followed by Kalshi moving the case to federal court to delay proceedings, potentially prolonging litigation for years.
- Nevada's aggressive stance is significant given its historical role as the leading U.S. jurisdiction for legal sports betting, and its
