A Nevada court has extended its ban on Kalshi's sports prediction markets.
Nevada Judge Blocks Kalshi's Sports Prediction Markets, Citing 'No Material Difference' From Gambling
A Nevada judge has ruled that Kalshi's sports prediction market products are "not materially different" from gambling. The judge extended a previously issued temporary restraining order and granted a preliminary injunction requested by state gaming regulators—barring Kalshi from offering the contracts locally until further proceedings.
The initial order, issued on March 20th, covered sports, entertainment, and election-related prediction markets. Regulators argue the products should fall under state gambling laws. Kalshi, however, maintains they are federally regulated derivatives. The fight over jurisdiction is ongoing.
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