US EditionNevada judge extends ban on Kalshi operating prediction market in ...
- On Friday, Carson City District Court Judge Jason Woodbury extended a ban on prediction market operator Kalshi, barring the company from offering event-based contracts in Nevada without obtaining a gaming license.
- Woodbury rejected Kalshi's argument that its products are federal swaps, finding that purchasing a sporting event contract is "indistinguishable" from placing a wager through a state-licensed gaming operator.
- Deputy Attorney General Jessica Whelan noted 90 percent of Kalshi's revenue stems from sports-betting contracts, evidence the Nevada Gaming Control Board cited that the company operates as an unlicensed gambling business.
- The court gave Kalshi until May 4 to implement geofencing measures blocking Nevada users from transactions deemed illegal under state gaming law, while the preliminary injunction bars sports, election, and entertainment contracts.
- This ruling positions Nevada as the only state with a court-enforced ban against the company, amid escalating federal-state conflict where the Commodity Futures Trading Commission has sued Arizona and other states challenging their ability to regulate prediction markets.
20 Articles
20 Articles
Feds sue 3 states for trying to bring Kalshi and Polymarket under more control
The federal government on Thursday sued Connecticut, Arizona and Illinois, challenging their efforts to regulate prediction market operators such as Kalshi and Polymarket. All three states have sent cease and desist orders to such companies accusing them of engaging in illegal online gambling under state law. Arizona also filed criminal charges last month against Kalshi for allegedly violating state gambling laws and a law that makes betting on …
Arizona’s Kalshi prosecution sparks federal lawsuit in escalating regulatory clash
The Commodity Futures Trading Commission sued Arizona on April 2, 2026, alleging the state is violating federal law by trying to regulate Kalshi and other online prediction markets. (Photo by Jim Small/Arizona Mirror)Three weeks after Arizona filed criminal charges against online prediction market company Kalshi for allegedly violating the state’s gambling laws, the Trump administration sued the Grand Canyon State, saying it has no authority to …
Federal Government Challenges State Crackdown on Prediction Markets
A growing legal fight over the future of prediction markets escalated Thursday as the federal government filed suit against three states, including Arizona, over their attempts to rein in companies like Kalshi and Polymarket. At the center of the dispute is a fundamental question: whether these platforms fall under federal financial oversight or state gambling laws. Arizona… Source
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