Overview
- U.S. District Judge Andrew P. Gordon on Monday vacated his April order that had protected Kalshi, clearing the Nevada Gaming Control Board to block the platform’s sports event contracts.
- Judge Gordon wrote that Kalshi’s reading of the Commodity Exchange Act would improperly shift all sports betting under CFTC oversight and upset long‑standing state and tribal authority.
- Kalshi said it disagrees, asserting it is a CFTC‑regulated designated contract market under exclusive federal jurisdiction, and stated it intends to appeal to the Ninth Circuit.
- The Control Board is preparing guidance advising Nevada licensees not to do business with Kalshi or similar prediction markets following the ruling, according to Chairman Mike Dreitzer.
- Related battles continue as the judge previously denied Crypto.com similar relief, ruled against Robinhood’s bid tied to access to Kalshi, and Kalshi moved to dismiss a Ho‑Chunk Nation lawsuit by arguing IGRA does not reach CFTC‑regulated markets.