A significant judicial victory for Kalshi prediction markets is overturned by a federal judge in Nevada.
A Nevada ruling exacerbates the nation’s courts’ increasing disagreement over whether prediction markets are bets or financial products. A crucial court victory for prediction markets operator Kalshi was reversed by a federal judge in Nevada, who dissolved a preliminary injunction that had prevented state regulators from classifying its contracts for sporting events as unlawful gambling. […]
Kalshi can continue operating on California tribal land as the court rejects an injunction to block its contracts.
Despite admitting that the prediction market “may have found a way around prohibitions on interstate gambling,” a federal judge dismissed an injunction to three California tribes, allowing Kalshi to continue providing its contracts in Indian Country. Blue Lake Rancheria, the Chicken Ranch Rancheria of Me-Wuk Indians, and the Picayune Rancheria of the Chukchansi Indians requested […]
