Appeals court clears way for Nevada to temporarily ban prediction market Kalshi
A federal appeals court denied Kalshi's attempt to block a potential temporary restraining order from Nevada, potentially forcing it out of the state.Summary
The Ninth Circuit Court of Appeals rejected Kalshi’s motion to prevent a temporary restraining order from Nevada, allowing the case to return to state court. The Nevada Gaming Control Board initially issued a cease-and-desist order in March 2025, aiming to halt Kalshi’s sports-related prediction market contracts. Kalshi argued that the order expanded to encompass all its event contracts and sought to move the case to federal court. The company warned of potential conflicting rulings across multiple venues if the case returned to state court. A temporary restraining order could force Kalshi to suspend operations in Nevada for at least two weeks. This dispute is part of a broader conflict between Kalshi and over a dozen state regulators, who claim jurisdiction over sports-related betting, while the Commodity Futures Trading Commission (CFTC) asserts federal jurisdiction.
(Source：CoinDesk)