Controversial financial exchange platform Kalshi will be forced to at least temporarily abandon offering sports contracts in Nevada after a federal judge ruled in favor of Nevada casino regulators who had sought to block the prediction market.
In a 29-page ruling issued Monday, U.S. District Judge Andrew Gordon sided with the Nevada Gaming Control Board and dissolved his 7-month-old preliminary injunction that allowed Kalshi to continue operations while it fights the state’s cease and desist order.
Gordon wrote that Kalshi’s interpretation “would require all sports betting across the country to come within the jurisdiction of the Commodity Futures Trading Commission (CFTC)” rather than state and tribal gaming regulators.
