Court to rule over Nevada Resort Association joining Kalshi case
A US District Court judge will have to decide whether to allow the Nevada Resort Association to intervene in a case over the legality of prediction markets.
The New York-based prediction market Kalshi has issued a lawsuit against the state gambling regulator, the Nevada Gaming Control Board. This lawsuit led to an injunction preventing the Nevada Gaming Control Board from taking action against the company.
Now the Nevada Resort Association has asked to join the case, a move that Kalshi and its legal team oppose, but supported by the Nevada attorney general’s office. District Court Judge Andrew Gordon is expected to rule on the issue ahead of his decision in the broader case.
The Nevada Resort Association represents 70 casinos in Nevada and believes that Kalshi’s operations in the state would have drastic consequences for Nevada’s sports betting market if the group is given the go-ahead to offer prediction contracts.
Nevada is one of seven states that have attempted to take legal action against Kalshi, on the grounds that the operator is effectively offering sports betting markets without being covered by state gambling laws. Kalshi is regulated by the federal Commodity Futures Trading Commission instead.
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