Federal judge orders Kalshi to stop offering prediction contracts in Nevada
US District Judge Andrew Gordon has dissolved an April injunction that allowed the platform to operate.
US.- A federal judge ruled that the prediction markets platform Kalshi is subject to Nevada gaming rules. US District Judge Andrew Gordon dissolved an April injunction that allowed Kalshi to continue operations while it fights the state’s cease-and-desist order.
Gordon wrote that Kalshi’s interpretation “would require all sports betting across the country to come within the jurisdiction of the Commodity Futures Trading Commission (CFTC). That interpretation upsets decades of federalism regarding gaming regulation, is contrary to Congress’ intent … and cannot be sustained.”
Sara Slane, Kalshi’s head of corporate development, commented: “As other courts have recognized, Kalshi is a regulated, nationwide exchange for real-world events, and it is subject to exclusive federal jurisdiction. It’s very different from what state-regulated sportsbooks and casinos offer their customers. We are evaluating the decision and anticipate making an appeal to the Ninth Circuit.”
