A Nevada state judge has sided with local authorities to ban Kalshi’s sports, election and entertainment event contracts in the state for 14 days.
A Nevada judge has temporarily blocked Kalshi from operating in the state, finding that state authorities are reasonably likely to prevail in a legal fight over whether the company’s event contracts violate Nevada gambling laws.
Carson City District Court Judge Jason Woodbury issued a temporary restraining order on Friday, siding with a Nevada Gaming Control Board motion to block Kalshi from operating in the state for 14 days.
“Prediction markets, to the extent they facilitate unlicensed gambling, are illegal in Nevada, and we have a statutory duty to protect the public,” Nevada Gaming Control Board Chair Mike Dreitzer said in a statement to Reuters.
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Author: Jesse Coghlan
