Court to Rule on Resort Association Request in Sports Betting Case

The U.S. District Court judge overseeing litigation challenging whether federal prediction markets are legal under the state’s sports gambling rules must decide if the Nevada Resort Association may intervene in the case.

According to court filings, the Nevada attorney general’s office supports the NRA’s participation in the case, but New York-based KalshiEx LLC, a prediction market that offers sports contracts statewide, opposes it.

U.S. District Court Judge Andrew Gordon has given the NRA until Wednesday to answer Kalshi’s plea to deny the NRA’s participation.

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The NRA thinks it has a strong interest in the lawsuit since Nevada’s legal sports betting sector is expected to generate $7.8 billion in sports bets by 2024, and the NRA represents 70 casino resorts across the state. The group expected “seismic” changes in Nevada sports betting if Kalshi and other prediction markets are permitted to offer futures contracts on sporting events.

“Kalshi has repeatedly advertised itself on social media as offering sports betting,'” an earlier NRA court filing states. “Example tags include: ‘The First Nationwide Legal Sports Betting Platform,’ ‘Betting on Kalshi, the first app for legal sports betting in all 50 states,’ and ‘Sports Betting Legal in all 50 States on Kalshi.'”

The Nevada Gaming Control Board claims Kalshi must have a state gaming license to sell the contracts listed on its website. Kalshi responds that it is controlled by the federal Commodity Futures Trading Commission, which it claims has sole jurisdiction over futures trading, and that federal market monitoring exceeds state gaming regulations.

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