Prediction market platform Kalshi has been temporarily banned from operating in Nevada after a judge granted the state's request for a restraining order. Nevada regulators argue Kalshi operates an illegal gambling business without proper licensing and violates state law by allowing users under 21. The legal battle centers on whether Kalshi's federal registration with the CFTC exempts it from state gambling regulations.
Background
Kalshi is a CFTC-regulated prediction market platform that allows users to bet on real-world events. The platform has faced increasing regulatory scrutiny as states debate whether prediction markets constitute gambling or financial instruments.
- Source
- TechCrunch
- Published
- Mar 21, 2026 at 03:15 AM
- Score
- 6.0 / 10