Nevada Judge Blocks Kalshi Prediction Market Operations
A Nevada judge issued a temporary restraining order against Kalshi on Friday. The firm must halt event contract operations until it secures a state license.
A judicial ruling in the United States has temporarily halted the operations of the prediction market platform Kalshi within the state of Nevada. On Friday, Carson City District Court Judge Jason Woodbury issued a temporary restraining order against the company, effectively stopping it from offering events contracts to state residents.
The legal intervention follows a request from the Nevada Gaming Control Board, which argued that the platform was operating without the necessary state licensure. The order prevents Kalshi from continuing to facilitate financial wagers on its platform related to a variety of topics, including political elections, sporting events, and entertainment outcomes.
The court's decision marks a significant regulatory hurdle for Kalshi, which has sought to expand its prediction market model across different jurisdictions. By requiring a license before further activity, the state authorities are asserting oversight over digital platforms that offer contracts based on the outcome of real-world events.
