Nevada Judge Extends Kalshi Ban, Rules Event Contracts Unlicensed Gambling
Cointelegraph
A Nevada judge extended a ban on Kalshi, ruling its event-based prediction contracts constitute unlicensed gambling under state law.Summary
A Nevada judge has granted a preliminary injunction against Kalshi, effectively barring the platform from offering event-based contracts to state residents. Judge Jason Woodbury rejected the company's argument that its products are financial derivatives under federal oversight, ruling instead that they are functionally equivalent to sports betting and constitute unlicensed gambling. The ruling extends a previous temporary restraining order through April 17, marking a significant legal setback for the prediction market platform as states increasingly scrutinize such services.
(Source：Cointelegraph)