The U.S. Supreme Court could be the next stop in the continuing legal battle between Nevada gaming regulators and New York-based prediction market KalshiEx LLC.
Kalshi, a financial services company that operates a derivatives exchange and prediction market offering products referred to as event contracts for sale, was ordered Tuesday to stop writing contracts after the Ninth Circuit Court of Appeals ruled in favor of the Nevada Gaming Control in an appeal to a U.S. District Court reversal of a decision by Judge Andrew Gordon on a preliminary injunction in November.
“The board continues to vigorously fulfill its obligation to safeguard Nevada residents and gaming patrons and uphold the integrity of a thriving gaming industry,” said Gaming Control Board Chairman Mike Dreitzer.
