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A Nevada judge has temporarily prevented the federally licensed Kalshi from operating in the state.
From Yahoo:
According to court filings, Judge Jason D. Woodbury concluded that Kalshi is not licensed under the Nevada Gaming Control Act and, because the company takes a commission on contract trades, its model fits the state’s definition of a “percentage game.” That designation is pivotal: in Nevada, percentage games are gambling, which triggers licensure and strict age limits.
As a result, Kalshi will be prohibited from allowing customers to utilize their platform while the case proceeds. A hearing is slated for April.
The Nevada Gaming Control Board sued earlier this year seeking to block Kalshi’s in-state operations.
Kalshi counters that it is a registered designated contract market overseen by the Commodity Futures Trading Commission. In its view, the Commodity Exchange Act places its event contracts squarely under federal jurisdiction, preempting state gambling regimes. The company points to its federally mandated compliance controls—market surveillance, KYC/AML checks, and clearing protocols—as evidence that it operates a financial exchange, not a sportsbook.
- Aaron Goldstein, Gambling911.co m
