"Kalshi has repeatedly stated that its operations are legal in 50 states, which is clearly not true. Prediction markets, to the extent they facilitate unlicensed gambling, are illegal in Nevada, and we have a statutory duty to protect the public."
"A TRO would bar Kalshi from offering event-based contracts relating to sporting and other events to people within Nevada without obtaining all required gaming licenses, and from allowing its market to accept wagers from persons under the age of 21 in Nevada."
"This situation is unprecedented. Nevada is currently the only state with temporary restrictions in effect due to a court order."
"We disagree with those restrictions, but as a law-abiding company, we're following them. We're confident in our legal position, and we'll continue to fight for your right to trade."
A Nevada judge issued a 14-day temporary restraining order against Kalshi, preventing the company from operating in the state. This follows a cease-and-desist order from state gaming regulators after Kalshi began offering event contracts on sports. The Nevada Gaming Control Board asserts that prediction markets facilitating unlicensed gambling are illegal. Kalshi has not appealed the order, which prohibits offering event-based contracts without proper licenses. The situation is unique, as Nevada is the only state currently enforcing such restrictions due to a court order.
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