Kalshi Granted Permission to Operate in Nevada While Case Continues

Kalshi has won a legal battle in Nevada, securing permission to keep offering its sports-related prediction markets in the state while a larger court case moves forward.

U.S. District Judge Andrew P. Gordon granted part of Kalshi’s request for a temporary restraining order and preliminary injunction, blocking Nevada’s attempt to shut the platform down. The ruling temporarily prevents the state from enforcing a cease-and-desist order aimed at halting Kalshi’s operations. Nevada’s request to immediately suspend Kalshi’s activities was denied.

While the court issued a minute order for now, a full written opinion is expected later.

Nevada is not the only state targeting Kalshi. Cease-and-desist orders have also been sent by regulators in New Jersey, Illinois, Maryland, Ohio, and Montana. Kalshi, along with Robinhood and Crypto.com, has faced mounting scrutiny for offering prediction markets tied to sports outcomes.

Kalshi’s position is that it operates as a CFTC-regulated exchange, and it already secured a major legal victory when it won the right to offer contracts on political events like elections.

A representative from Kalshi welcomed the decision: “Today, the Federal Court in Nevada granted Kalshi’s preliminary injunction and blocked the State from trying to prevent Kalshi from offering prediction markets. We are grateful for the court’s careful attention to this matter and recognition of Kalshi’s status as a CFTC-regulated exchange. On to the next step.”

Kalshi recently partnered with Robinhood to expand into sports-based markets, allowing users to bet on events like March Madness and the Super Bowl.

For now, Kalshi can continue operating in Nevada, but the broader question of whether its sports contracts comply with state laws is still under review. The outcome of the federal case will likely influence how prediction markets are treated across the country.