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Kalshi Loses Legal Battle in Nevada | Reno News
A federal appeals court just dealt a major blow to Kalshi, ruling that Nevada’s gambling laws apply to its prediction markets—even for sports and elections—meaning the company can’t trade there without a license. The Ninth Circuit sent the election portion back for further review, while Nevada officials hailed it as a win. With 20 states grappling with similar legal battles and conflicting rulings across circuits, this case could soon head to the Supreme Court. Kalshi plans to appeal, but for now, trading is on hold in Nevada as the battle over federal vs. state regulation rages on. Listen in…
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