Nevada Regulator Sues Prediction Market Platform Kalshi

Odaily News Nevada regulators have officially filed a lawsuit against prediction market platform Kalshi. It is reported that the Nevada regulators have sought a court order to prohibit Kalshi from continuing to operate its "unlicensed sports betting business." They also noted that Kalshi has experienced rapid growth, with its trading volume on Super Bowl Sunday this year being 27 times that of last year. As of now, a spokesperson for Kalshi has declined to comment on the matter but disclosed that the company has requested a federal court to hear the case, arguing that only federal law applies to prediction markets and that the issues underlying the state's new enforcement action are the same as those currently being litigated in federal court. (Businessinsider)