Nevada judge temporarily blocks Kalshi from operating in the state

A Nevada state judge has sided with local authorities to ban Kalshi’s sports, election and entertainment event contracts in the state for 14 days.

A Nevada judge has temporarily blocked Kalshi from operating in the state, finding that state authorities are reasonably likely to prevail in a legal fight over whether the company’s event contracts violate Nevada gambling laws.

Carson City District Court Judge Jason Woodbury issued a temporary restraining order on Friday, siding with a Nevada Gaming Control Board motion to block Kalshi from operating in the state for 14 days.

"Prediction markets, to ​the extent they facilitate unlicensed gambling, are illegal in Nevada, and we have a statutory duty to protect the public," Nevada Gaming Control Board Chair Mike Dreitzer said in a statement to Reuters.

Read more