Source link : https://las-vegas-news.com/ninth-circuit-bolsters-nevadas-bid-to-curb-kalshi-prediction-markets/
Appeals Court Rejects Kalshi’s Emergency Plea (Image Credits: Pixabay)
Nevada — Federal appeals judges handed state gaming regulators a significant victory in their ongoing effort to halt prediction market platform Kalshi from offering sports-related contracts within the state.[1][2]
Appeals Court Rejects Kalshi’s Emergency Plea
The U.S. Ninth Circuit Court of Appeals issued a brief order on February 17, 2026, denying KalshiEX LLC’s motion for an administrative stay. This decision cleared the path for Nevada to enforce its regulations against the New York-based company. Previously, a lower federal district court had sided temporarily with Kalshi, but the appeals panel reinstated Nevada’s position.[1]
Nevada Gaming Control Board members viewed the ruling as affirmation of their authority. The board had argued that Kalshi’s operations bypassed state licensing requirements. Kalshi, in turn, sought to pause enforcement while its broader appeal proceeded.[3]
Unlicensed Wagers or Legitimate Derivatives?
At the core of the conflict lies Kalshi’s platform, which enables users to trade contracts predicting outcomes of events, with about 90 percent focused on sports. Regulators labeled these as unlicensed parlay wagers on multievent sports results, posing risks to consumers and the gaming industry. Nevada casinos reported their lowest Super Bowl betting volume in a decade, coinciding with Kalshi’s reported $1 billion in related contracts.[2][1]
Kalshi maintained…
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Author : Matthias Binder
Publish date : 2026-02-20 21:09:00
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