Kalshi faces 14-day shutdown in Nevada over gambling laws
Kalshi is temporarily banned in Nevada for 14 days due to a judge's order citing violations of state gambling laws.Summary
Kalshi, a prediction market company, has been ordered to cease operations in Nevada for 14 days after a state judge granted a temporary restraining order. The Nevada Gaming Control Board argued that Kalshi’s event contracts related to sports, elections, and entertainment constitute unlicensed gambling under state law. Judge Jason Woodbury sided with the Board, rejecting Kalshi’s claim that its contracts fall under the jurisdiction of the Commodity Futures Trading Commission (CFTC). Kalshi is currently facing similar legal challenges in Arizona, where it faces criminal charges, and Massachusetts, where a previous ban was lifted on appeal. The ruling in Nevada underscores the ongoing debate regarding the regulation of prediction markets and the extent of state versus federal authority.
(Source：Crypto News)