Nevada regulator asks court to hold Kalshi in contempt
The NGCB has also asked the First Judicial District Court to impose monetary penalties for continuing to offer its services in the state.
US.- The Nevada Gaming Control Board (NGCB) has asked the First Judicial District Court for the State of Nevada to hold prediction market platform KalshiEX in contempt of court and impose monetary penalties, saying the company has violated an order to limit its operations.
The board’s filing states that Kalshi has not complied with the court’s May 18 order requiring it to stop offering sports, election or entertainment-related event contracts in the state. The NGCB has determined that Kalshi’s operations are unlawful in Nevada under multiple provisions of the Nevada Revised Statutes, and considers its sports event contracts to constitute wagering activity under state law.
NGCB chairman Mike Dreitzer said: “The Court has required Kalshi to stop offering covered event contracts in Nevada. We will continue to vigorously enforce Nevada law to safeguard gaming in our state.”
The statement reads: “Nevada’s public policy, as expressed by the Legislature, is that the gaming industry is vitally important to the economy of the state and the general welfare of the inhabitants and therefore must be licensed, controlled, and assisted to protect the public health, safety, morals, good order, and general welfare of the inhabitants of the state”.
Dreitzer has previously called on the gambling industry to take a firmer position on the expansion of sports event prediction markets, arguing the products are circumventing state-level gaming regulations.
