Nevada judge temporarily blocks Kalshi from offering event contracts in the state
The Facts
- A Nevada judge issued a temporary restraining order on Friday against Kalshi.
- The order blocks Kalshi from offering event contracts in Nevada related to sports, elections and entertainment.
- Carson City District Court Judge Jason Woodbury issued the restraining order at the request of the Nevada Gaming Control Board.
- The order is temporary and lasts about two weeks, with multiple reports saying it remains in effect until an April 3 hearing.
- The dispute centers on whether Kalshi needs a Nevada gaming license to operate its prediction market products in the state.
- Several reports say the Nevada case follows earlier regulatory action by the state gaming board, including a cease-and-desist effort against Kalshi.
- At least one report says this is the first time a U.S. state has forced Kalshi to stop operating there.
Context
What exactly did the Nevada judge order?
The judge issued a temporary restraining order that bars Kalshi from offering event contracts in Nevada on sports, elections and entertainment while the case proceeds Reuters,Bloomberg Business,Wired.
Why did Nevada regulators seek the order?
The Nevada Gaming Control Board argued that Kalshi was operating without the state gaming license regulators say is required for this kind of activity Investing.com,Bloomberg Business,PYMNTS.com,news.bloomberglaw.c….
What happens next in the case?
Several reports say the restraining order is set to remain in place until an April 3 hearing, when the court will consider the next stage of the dispute Bloomberg Business,Decrypt,Blockonomi,news.bloomberglaw.c….
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