Nevada Judge Temporarily Bans Kalshi Prediction Markets
District Court Judge Jason D. Woodbury in Carson City signed a temporary restraining order Friday blocking prediction market platform Kalshi from operating in Nevada for up to two weeks. State regulators argued the company lacked a required gaming license. The ban covers event contracts related to sports, elections, and entertainment. A Kalshi spokesperson declined to comment.
Kalshi was temporarily barred by a judge from offering its prediction market contracts in Nevada, after state regulators said the company didn’t have a gaming license. District Court Judge Jason D. Woodbury in Carson City signed a temporary restraining order Friday blocking Kalshi event contracts for sports, election and entertainment for as long as two weeks, according to a copy of the order provided by the Nevada Gaming Control Board. A spokesperson for Kalshi declined to comment. Ian McGinley, Partney at Sidley Austin and former Director of Enforcement at the Commodity Futures Trading Commission, joins Bloomberg Businessweek Daily to discuss. He speaks with Carol Massar and Tim Stenovec. (Source: Bloomberg)