Kalshi is in danger of having to shut off access to its sports contracts in Nevada after a judge denied the prediction market a stay that would have allowed it to keep offering the contracts.
Judge Andrew Gordon of the U.S. District Court for the District of Nevada on Tuesday decided against a stay that would have prevented Nevada from enforcing a cease-and-desist against the prediction market until the U.S. Court of Appeals for the Ninth Circuit considered an appeal. Gordon last month dissolved an injunction that also would have prevented Nevada from enforcing the cease-and-desist.
The prediction market must now file an emergency motion in the U.S. Court of Appeals for the Ninth Circuit if it wishes to keep operating in the state.
