Nevada Extends Ban on Kalshi’s Event Contracts

(AsiaGameHub) –   Nevada has maintained its block on Kalshi for the time being. A judge prolonged the current prohibition and indicated a move toward a more lasting injunction, preventing the company from providing event contracts in the state.

Good to Know

• Judge Jason Woodbury prolonged the March 20 prohibition through April 17
• Nevada authorities assert Kalshi is conducting gaming without a license
• Kalshi maintains its contracts are federally regulated swaps, not wagers

Nevada Treats Kalshi Like A Sportsbook

A federal victory in another jurisdiction did not assist Kalshi in this case. In Nevada, Judge Jason Woodbury continued to bar the platform and allowed himself additional time to draft what Reuters indicated might become a permanent ban.

The core of the dispute is not a licensing detail but a fundamental interpretation of the product. Kalshi has contended that its event contracts are subject to federal oversight and can be offered across the country. Nevada regulators countered with a more straightforward argument: individuals are still wagering money on sports results within the state without a Nevada sports betting license.

Woodbury sided with the regulators, not with Kalshi. He stated he could make a $100 wager on Kalshi just as he could at a licensed sportsbook. He then expressed the point even more bluntly.

“No matter how you slice it, that conduct is indistinguishable,” Woodbury said. “So I find based on the arguments that have been presented that it is a gaming activity that is prohibited for any non-licensee to engage in.”

This decision presents Kalshi with a definite obstacle in the Silver State. Should the platform wish to do business there, it must obtain a gaming license. Nevada is the first state to legally halt Kalshi’s operations, lending this case added significance as other states continue to debate prediction markets and sports contracts.