(AsiaGameHub) –   A Nevada court has provided state regulators with a recent victory in the ongoing dispute concerning prediction markets. Following a temporary restraining order issued on Friday, Kalshi is now prohibited from offering contracts related to sports, elections, and entertainment events in Nevada. A subsequent court hearing has been scheduled for April 3.

Good to Know

• A Nevada court issued a temporary restraining order preventing Kalshi from offering sports, election, and entertainment event contracts within the state.
• According to the Nevada Gaming Control Board, the decision means that all known unlicensed prediction markets are now restricted in Nevada.
• A hearing to determine if a longer-term injunction will be imposed is set for April 3.

Nevada Cuts Off Kalshi as Prediction Market Fight Keeps Growing

Although Kalshi previously secured an early victory in Nevada, the situation has now reversed. The Friday order prevents the company from offering or enabling sports, election, and entertainment event contracts in the Silver State. This strengthens the position of Nevada regulators after months of legal battles over whether these contracts constitute unlicensed gambling.

State regulators have consistently contended that Kalshi is operating without the gaming license mandated by Nevada law. In the court order, Judge Jason Woodbury stated that the Nevada Gaming Control Board has a reasonable likelihood of success. Reuters reported that the judge determined Kalshi’s event contracts linked to college basketball, professional football, and elections fall under a Nevada I

This is significant because Kalshi has persistently argued a contrasting position. The company maintains that federal oversight by the Commodity Futures Trading Commission places its event contracts beyond the reach of state gambling control. Nevada has dismissed this perspective, and the judge concurred, at least for the time being, permitting the state’s case to proceed.

The Kalshi case is also part of a broader conflict playing out across multiple states. Nevada has already compelled other operators to accept state-specific limitations. Court documents from Nevada indicated that Crypto.com ceased offering sports contracts to Nevada residents, while Robinhood agreed to halt offering sports event contracts in the state pending an appeal.