Kalshi gets 14-day Nevada ban in regulator dispute

A Nevada court issued a 14-day order directing Kalshi to stop offering event contracts in the state while a legal debate continues over the longer-term status of prediction markets there. A federal appeals court cleared the way for state regulators to seek the order after sending the case back to Nevada, despite Kalshi’s argument that it "faces imminent harm" and its request to move the matter to federal court.

The state court halted the platform’s sports, entertainment and election bets as the parties dispute who has regulatory authority. The judge said the gaming board cannot properly function under the current circumstances and ruled that "an unlicensed participant beyond the Board's control, such as Kalshi, obstructs the Board's ability to fulfill its statutory functions." The court set a follow-up hearing for April 3.

A spokesman for Kalshi declined to comment.

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