This morning, a judge here in Nevada dissolved Kalshi’s preliminary injunction against the Nevada Gaming Control Board. That injunction (now gone) prohibited Nevada from stopping Kalshi’s sports betting–excuse me–sports contracts from being offered in the state. While I expect Kalshi to quickly file an appeal (which would be with the 9th Circuit Court of Appeals), it’s likely that Kalshi’s days in the Silver State are limited.
As I said in my post last week, gambling has been historically regulated at the state level. Kalshi being allowed by the Commodities Futures Trading Commission (CFTC), a regulator that does not focus on gambling, had to do with general predictions. Sure, Kalshi can (based on CFTC rulings) offer whether or not the Epstein files will be released. But does it make sense they can offer a contract on whether the Bears will beat the Eagles on Friday?
The only certainty here is that further court actions are coming.
