Judge commits to move quickly on Kalshi Nevada judgment
A District Court judge has confirmed that he will be aiming to bring a quick judgment in a case that could have profound implications for the US sports betting sector.
Judge Andrew Gordon is set to rule on a lawsuit filed back in March by prediction markets company Kalshi. The lawsuit was in response to a cease-and-desist order issued to the company by the Nevada Gaming Control Board.
Similar orders were issued in New Jersey and Maryland, but all have been blocked in court, pending judicial outcomes.
The Nevada Gaming Control Board and the Nevada Resort Association argue that Kalshi is providing unregulated sports betting services that circumvent sports betting rules.
The platform is accused of lacking the experience and expertise to prevent underage gambling or adequately provide responsible gambling support.
They have also argued that the company’s offer of prediction contracts for election outcomes is unlawful, as Nevada’s constitution prohibits election wagering.
Kalshi argues that the Commodity Futures Trading Commission regulates its sports prediction markets, which takes precedence over state gaming regulators.
They also say that this means that they can offer their prediction markets to residents in states that don’t have regulated sports betting.
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Charlotte Capewell brings her passion for storytelling and expertise in writing, researching, and the gambling industry to every article she writes. Her specialties include the US gambling industry, regulator legislation, igaming, and more.
