{"id":25085,"date":"2026-04-04T14:21:24","date_gmt":"2026-04-04T14:21:24","guid":{"rendered":"https:\/\/bitunikey.com\/news\/kalshi-faces-nevada-setback-as-judge-rejects-defense\/"},"modified":"2026-04-04T14:21:31","modified_gmt":"2026-04-04T14:21:31","slug":"kalshi-faces-nevada-setback-as-judge-rejects-defense","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/kalshi-faces-nevada-setback-as-judge-rejects-defense\/","title":{"rendered":"Kalshi faces Nevada setback as judge rejects defense"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p><strong>A Nevada court has moved to keep Kalshi out of the state\u2019s event-contract market while the legal fight continues.\u00a0<\/strong><\/p>\n<div id=\"cn-block-summary-block_43c84fa1e21df9ed5cc126367f4af6da\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Nevada judge backed regulators and said Kalshi\u2019s event contracts are no different from sports betting.<\/li>\n<li>The ruling extends Kalshi\u2019s Nevada ban while the court reviews longer-term restrictions through April 17.<\/li>\n<li>The case deepens the clash between state gambling laws and federal oversight claims over prediction markets.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>The ruling came after the Nevada Gaming Control Board asked the court to block the company from offering contracts tied to sports, elections, and entertainment outcomes.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>The case adds to a wider debate over whether prediction market contracts fall under federal derivatives law or state gambling rules. Kalshi has said its products are financial contracts, while Nevada regulators have argued that the offerings match gambling activity under state law.<\/p>\n<h1 class=\"wp-block-heading\"><strong>Nevada court keeps ban in place<\/strong><\/h1>\n<p>Judge Jason Woodbury said he would grant a preliminary injunction against Kalshi at a hearing in Carson City. <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/nevada-judge-extends-ban-kalshi-operating-prediction-market-state-2026-04-03\/\" target=\"_blank\" rel=\"nofollow\">According<\/a> to Reuters, the order prevents the company from allowing Nevada residents to trade event contracts without a gaming license.<\/p>\n<p>The move extends a temporary restraining order issued on March 20. That order will stay in effect through April 17 while the court completes the next steps in the case.<\/p>\n<p>Kalshi had argued that its contracts are \u201cswaps\u201d and fall under the oversight of the Commodity Futures Trading Commission. The company has maintained that federal law gives the CFTC authority over these products.<\/p>\n<p>The judge did not accept that position. Reuters reported that Woodbury said buying a contract tied to a game result is the same as placing a wager through a sportsbook. He said, \u201cNo matter how you slice it, that conduct is indistinguishable.\u201d<\/p>\n<h2 class=\"wp-block-heading\"><strong>State regulators score early court win<\/strong><\/h2>\n<p>The ruling marks the first time a state has secured a court-enforced ban that is currently active against Kalshi. That gives Nevada an early legal win as more states question prediction markets tied to sports and similar events.<\/p>\n<p>Utah has also moved against the sector. Lawmakers there passed a bill last month that classifies proposition-style bets on in-game events as gambling and seeks to block such products from platforms including Kalshi and Polymarket.<\/p>\n<p>The dispute also comes as the CFTC continues to defend its role in prediction markets. CFTC Chairman Michael Selig said last month that the agency is ready to fight in court to protect its jurisdiction from states and other regulators.<\/p>\n<p>Selig also described prediction markets as \u201ctruth machines\u201d during an industry conference. He said markets where users risk money on outcomes can offer a clearer signal about future events than opinion polls, setting up a sharper clash between federal oversight claims and state gaming laws.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>A Nevada court has moved to keep Kalshi out of the state\u2019s event-contract market while the legal fight continues.\u00a0 Summary Nevada judge backed regulators and said Kalshi\u2019s event contracts are&hellip;<\/p>\n","protected":false},"author":1,"featured_media":5608,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-25085","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/25085","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=25085"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/25085\/revisions"}],"predecessor-version":[{"id":25086,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/25085\/revisions\/25086"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/5608"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=25085"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=25085"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=25085"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}