Judge continues Nevada ban on Kalshi sports markets

In the Silver State on Friday, a state judge in Nevada temporarily suspended prediction market provider Kalshi’s sports-related contracts from his predictions markets.

The First Judicial District Court heard that he would also order the Nevada Gaming Control Board to issue a preliminary injunction against Kalshi banning some of its prediction markets until ‘a larger court case from the state gaming regulator could be resolved’. Reuters reported Friday that he extended the temporary restraining order a first granted on March 20 by two weeks to sort out the language of the injunction.

The judge’s original temporary restraining order blocked Kalshi from offering sports, entertainment and election-related bets.

A. judge said buying a contract on ‘indistinguishable’ Kalshi baseball game was “not unlike placing s bet on state gaming platform,’ Reuters reported.

I think so much of the arguments that have been made to support it is a gaming activity which no non-licensee can play,’ he said.

Spokespeople for Kalshi and the Nevada Gaming Control Board did not return requests for comments.

Many U.S – including state regulators, have blocked providers of prediction markets in the form of s that are now blocking from their provider’s services. S S. arguing that these companies’ sports-related products seem to be gambling products, which should be controlled at the state level, and . Kalshi and other prediction market providers claim that they are federally regulated designated contract markets offering swaps, a form of derivative product, and therefore do not face state regulators.

Chairman Mike Selig, chairman of the Commodity Futures Trading Commission, has stanceally agreed with these companies. In an appeals court case earlier this year, it filed a brief amicus filing and sued Arizona, Illinois and Connecticut on Thursday with the Department of Justice — saying that it is the proper regulator and claims states are violating its role.

The hearing followed a hearing the same day as another hearing at. federal court in Arizona, where was sworn in for his hearing. During that hearing, Kalshi had filed to block state regulators from filing in order to prevent products of the prediction market provider’s company in the state. Arizona Attorney General Kris Mayes previously filed an information claiming criminal charges against Kalshi had been filed against the state.

According to the court docket, District Judge MIchael Liburdi heard arguments and is considering the motion.

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