Prediction market Kalshi can now be banned from offering sports contracts in Nevada after the 9th Circuit Court of Appeals ruled in favor of the state’s Gaming Control Board on Tuesday.
The one-page ruling backed the November decision of a federal judge, who ordered Kalshi to stop offering sports contracts in the state. The ruling was appealed, and Kalshi was still available to Nevada customers, including a week ago during the Super Bowl. Nevada saw its lowest wagering total on the game in 10 years, and some analysts speculated that prediction markets took away some of the business.
The control board filed its first cease-and-desist order against Kalshi last March.
