Nevada Judge Bans Kalshi's Prediction Markets
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Show Notes
Nevada Judge Bans Kalshis Event Contracts, Labeling Them as Gambling
A Nevada judge has extended a temporary ban on Kalshis event contracts, turning it into a preliminary injunction that blocks the platform from trading on sports, elections, or entertainment outcomes. The judge ruled that these contracts function like sports wagers, not financial swaps under federal Commodity Futures Trading Commission oversight. This is the first time a state has nailed Kalshi with an active court ban. Meanwhile, Utah lawmakers are also targeting prediction markets, and the feds are ready to fight states in court to protect their turf.
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