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Appeals Court Clears Way for Nevada to Temporarily Ban Prediction Market Kalshi
Nevada regulators allege Kalshi operates without gaming licenses and allows underage wagering, prompting a 14-day ban amid ongoing multi-venue litigation over state gambling jurisdiction.
- On Thursday, a Ninth Circuit Court of Appeals panel denied Kalshi's administrative-stay motion, clearing the way for state proceedings after Kalshi warned on March 13 it "faces imminent harm".
- After a March 2025 cease-and-desist, Nevada regulators began this fight, contending Kalshi operates without proper licenses and pays no gaming taxes, according to the Nevada Gaming Control Board.
- In a state court on Friday, the First Judicial District Court of Nevada issued a 14 day restraining order barring Kalshi from offering event-based contracts and scheduled a hearing for early next month with April 3 set as the next hearing.
- Kalshi faces an operational ban in Nevada and the order halts its operations starting today for at least two weeks, while legal observers say the TRO could become a longer preliminary injunction.
- Across the U.S., states are mounting actions as the CFTC asserts exclusive jurisdiction and over a dozen states, including Arizona, challenge prediction platforms.
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19 Articles
Nevada judge grants temporary restraining order to keep Kalshi from operating in state
A temporary restraining order that prohibits prediction market Kalshi from offering sports, election and entertainment event contracts in Nevada has been granted by a Carson City judge.
·Las Vegas, United States
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Nevada Becomes First State to Ban Kalshi Prediction Markets
Nevada has officially become the first U.S. state to temporarily ban Kalshi’s operations following the granting of a Temporary Restraining Order (TRO). This Friday, a state judge ruled that the Nevada Gaming Control Board is likely to succeed in its case, forcing the prediction market platform to suspend contracts for sports, political, and entertainment events for the next 14 days. The ban, which will remain in effect until April 3, is a signif…
Coverage Details
Total News Sources19
Leaning Left2Leaning Right0Center3Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
L 40%
C 60%
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