Nevada opposes Kalshi's request to delay Ninth Circuit appellate proceedings

Odaily reports that Nevada has opposed Kalshi's request to delay the relevant proceedings in the U.S. Court of Appeals for the Ninth Circuit while awaiting rulemaking by the U.S. Commodity Futures Trading Commission. The state said that the court's earlier finding that the contracts at issue are not swaps was based on the text, context, and legislative purpose of the Commodity Exchange Act, and that the CFTC's rulemaking will not change that conclusion. Nevada also said the request is intended to prolong what it calls Kalshi's illegal operations.