Nevada Court Extends Ban on Kalshi Sports Prediction Market

Odaily News A judge in Nevada, USA, ruled that the sports prediction market products offered by Kalshi have "no material difference" from gambling activities. The judge decided to extend a previously issued temporary restraining order and also granted the state's gaming regulatory agency's request for a preliminary injunction, prohibiting Kalshi from continuing to offer related contract services in the state until the case is further adjudicated.

The injunction was initially issued on March 20th and covers prediction markets related to sports, entertainment, and elections. Regulators argue that the relevant products should be subject to state gambling regulations, while Kalshi maintains that they belong to federally regulated derivatives markets. The jurisdictional authority over such matters remains disputed. (CoinDesk)