An appeals court has denied Kalshi a stay that would have prevented Nevada from banning its sports contracts, meaning the prediction market may have to bring the case to the Supreme Court’s emergency docket, or face a court order to shut down its sports contracts in the state.
The U.S. Court of Appeals for the Ninth Circuit handed down the decision Thursday.
This means that Kalshi has no federal shield against potential enforcement from a Nevada state-level court, the First Judicial Court of Carson City, where it already faces a lawsuit, filed by the Nevada Gaming Control Board (NGCB) last month.
