Key Insights
Ninth Circuit cleared Nevada to sue Kalshi.
Nevada alleged unlicensed sports wagering activity.
CFTC backed federal oversight of event contracts.
Nevada sued Kalshi on Tuesday after the Ninth Circuit denied the company’s bid to block state enforcement over sports prediction markets. The ruling allowed the Nevada Gaming Control Board to file a civil action in state court alleging unlicensed wagering. The dispute deepened a jurisdictional clash between state gaming regulators and federal commodities oversight.
The Kalshi lawsuit reflected a broader fight over prediction market regulation in the United States. Several states challenged event-based contracts that resembled sports betting, while the Commodity Futures Trading Commission asserted exclusive authority over designated contract markets. That tension intensified as political ties and crypto firms entered parallel litigation.
Appeals Court Cleared Path For Enforcement
Court records showed the US Court
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