The state of Nevada has called for Kalshi to offer up all of its communications about event contracts with the Commodity Futures Trading Commission (CFTC), the federal government and CFTC chair nominee Brian Quintenz, as well as information about its market makers, as it seeks a formal discovery process in its lawsuit with the prediction exchange.
In a motion filed in the U.S. District Court for the District of Nevada, the state argued that discovery of evidence is needed in order to decide whether Kalshi’s sports event contracts should be allowed there.
Kalshi had previously argued that there is no need for discovery, saying the case hinges on interpretations of law – mostly about when federal statutes may overrule state law – rather than questions of fact.
