"Nevada gaming regulators have taken their fight with Kalshi to court, filing a civil enforcement lawsuit just hours after a federal appeals panel declined to pause the dispute. The move came Tuesday, shortly after the U.S. Court of Appeals for the Ninth Circuit rejected the company's emergency request for an administrative stay. The Nevada Gaming Control Board said it lodged its complaint in the First Judicial District Court in Carson City on February 17. Through the filing, regulators are asking a judge for "a declaration and injunction to stop Kalshi from offering unlicensed wagering in violation of Nevada law.""
"Regulators argue that some of those offerings cross a legal line. In the state's view, providing "sports event contracts, or certain other event contracts," amounts to wagering under Nevada law, and "entities offering such event contracts must be licensed." The lawsuit maintains that Kalshi's activities are "unlawful in Nevada" and run afoul of Nevada Revised Statutes (NRS) 463.160, NRS 463.350, NRS 465.086, and NRS 465.092, which deals with licensing and the manipulation of outcomes in games."
"The Board continues to vigorously fulfill its obligation to safeguard Nevada residents and gaming patrons, and uphold the integrity of a thriving gaming industry."
Nevada regulators filed a civil enforcement lawsuit against Kalshi after a federal appeals panel declined to pause the dispute. The Nevada Gaming Control Board lodged the complaint in the First Judicial District Court in Carson City on February 17 and asked for a declaration and injunction to halt alleged unlicensed wagering. The complaint describes Kalshi as operating a derivatives exchange and prediction market that offers event contracts for sale on its website and mobile app and makes them available to Nevada residents. Regulators contend some event contracts, including sports event contracts, amount to wagering under Nevada law and require licensing, and they cite multiple Nevada Revised Statutes in alleging unlawfulness. The Board affirmed its duty to safeguard residents and the integrity of the gaming industry.
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