Kalshi is facing a potential halt in its trading operations in Nevada after a federal judge ruled that the Commodity Exchange Act does not fully preempt state gaming laws, allowing the Nevada Gaming Control Board to pursue an injunction against the prediction market. This decision, which sends the case back to state court, marks a significant setback for Kalshi, as it could become the first state where the exchange is forced to stop offering event contracts due to a court ruling. The court affirmed that claims by the Nevada Gaming Control Board are based in state law, potentially enabling other states to adopt similar enforcement strategies against prediction markets.
Kalshi faces Nevada trading halt after court remand decision
