TLDR Nevada issued a temporary restraining order forcing Kalshi to stop offering sports, election, and entertainment contracts in the state The Nevada Gaming Control Board says Kalshi is operating without a gaming license and its contracts count as illegal wagering Kalshi has complied with the order but says it disagrees and will fight the restrictions in court The TRO lasts at least 14 days with a hearing set for April 3 to decide what happens next Kalshi faces growing legal pressure from multiple states including Arizona criminal charges and a federal class-action lawsuit in Georgia
Kalshi, the prediction markets platform, has been forced to shut down its sports, election, and entertainment contracts in Nevada after a state court issued a temporary restraining order.
The order came on March 20 after the Nevada Gaming Control Board asked the court to step in. The regulator argued that Kalshi has been running what it considers unlicensed gambling in the state.
This makes Nevada the first state to successfully force Kalshi to geofence its core products. The company has long claimed its operations are legal in all 50 states.
Nevada Gaming Control Board Chairman Mike Dreitzer pushed back on that claim directly. He said Kalshi’s statement that it operates legally in all 50 states “is clearly not true.”
The board considers Kalshi’s event-based contracts to be wagering activity under Nevada state law. Under those statutes, offering such products without a gaming license is illegal.
Kalshi Restricts Markets But Pushes Back
Kalshi told its Nevada users in an email that markets related to sports, entertainment, and elections are now restricted. Users can still sell existing positions or let them settle, but they cannot open new ones.
Other contract categories like crypto, weather, and world news remain available to Nevada users.
The company