Nevada court blocks Kalshi contracts intensifying clash over prediction markets legality

A Nevada state judge has stepped in to temporarily block parts of Kalshi’s business, escalating a fast-moving fight over how prediction markets should be regulated.

The First Judicial District Court granted a temporary restraining order requested by the Nevada Gaming Control Board, forcing Kalshi to halt contracts tied to sports, elections, and entertainment events within the state. Regulators argued those offerings amount to unlicensed wagering, and the court agreed.

The ruling follows earlier action by the state...