A Nevada state judge has temporarily blocked prediction market platform Kalshi from operating in the state for 14 days amid a legal dispute over gambling laws.
Carson City District Court Judge Jason Woodbury granted a restraining order, finding regulators are likely to succeed in arguing Kalshi’s contracts violate Nevada law.
Nevada Gaming Control Board Chair Mike Dreitzer said:
“Prediction markets, to the extent they facilitate unlicensed gambling, are illegal in Nevada.”
The ruling prohibits Kalshi from offering sports, election and entertainment-related event contracts, which the court considers equivalent to a “sports pool.”
Kalshi has argued its contracts fall under the jurisdiction of the Commodity Futures Trading Commission, but the court rejected that claim at this stage.
The case adds to mounting legal pressure, with similar actions in Massachusetts and criminal charges filed in Arizona over alleged unlicensed gambling.
A further hearing is scheduled for April 3 as the dispute continues, highlighting ongoing regulatory uncertainty for prediction markets in the US.