TLDR A Nevada judge extended the ban on Kalshi and signaled he will grant a preliminary injunction against the prediction market platform The court ruled Kalshi’s event contracts are “indistinguishable” from sports betting under Nevada law Kalshi must implement geofencing technology to block Nevada users by May 4 The ban covers not just sports contracts but also election and entertainment-based contracts Nevada has now received favorable rulings against Kalshi, Polymarket, Robinhood, Crypto.com, and Coinbase
A Nevada state judge has extended the ban on prediction market platform Kalshi and indicated he plans to issue a preliminary injunction. The ruling makes Nevada the only state with a court-enforced, active ban on a prediction market operator.
Judge Jason Woodbury of the First Judicial District Court in Carson City said Kalshi’s event contracts are gambling under Nevada law. He gave the company until May 4 to set up geofencing technology to block Nevada residents from using the platform.
The April 3 ruling extends a 14-day temporary restraining order first issued on March 20. That earlier order banned Kalshi from offering sports, election, and entertainment-based contracts in the state.
Woodbury said he will issue a preliminary injunction and another short-term restraining order while he finalizes the details. The injunction would effectively keep Kalshi locked out of Nevada until the case moves forward.
Kalshi’s Federal Jurisdiction Argument Rejected
Kalshi argued its contracts fall under exclusive federal jurisdiction because they are financial instruments regulated by the Commodity Futures Trading Commission. The judge rejected that argument.
Woodbury sided with the Nevada Gaming Control Board’s position that the contracts work the same as traditional wagering. He said a person could walk a few blocks and place a bet on the Dodgers, do the same through a licensed sportsbook app, or buy a sporting event contract on