All posts tagged: Legality

Nevada court blocks Kalshi contracts intensifying clash over prediction markets legality

Nevada court blocks Kalshi contracts intensifying clash over prediction markets legality

Published by skeptic

A Nevada state judge has stepped in to temporarily block parts of Kalshi’s business, escalating a fast-moving fight over how prediction markets should be regulated. The First Judicial District Court granted a temporary restraining order requested by the Nevada Gaming Control Board, forcing Kalshi to halt contracts tied to sports, elections, and entertainment events within the state. Regulators argued those offerings amount to unlicensed wagering, and the court agreed. The ruling follows earlier action by the state, including a cease-and-desist letter warning Kalshi to stop operating without proper authorization. When the company didn’t comply, Nevada moved the dispute into court. Nevada says Kalshi operating illegally as judge blocks contracts State regulators said that Kalshi’s model crosses into gambling under Nevada law. They say any such activity must run through licensed operators, not a federally regulated exchange acting independently. “The Court has ordered Kalshi to immediately stop its unlicensed gaming activities,” the Board stated in a statement. Chairman Mike Dreitzer also challenged Kalshi’s broader messaging about legality across the country, saying, “Kalshi has repeatedly stated that …

CFTC guidance sparks debate over sports prediction markets oversight and legality

CFTC guidance sparks debate over sports prediction markets oversight and legality

Published by skeptic

Prediction markets in the U.S. just received a clear signal from regulators that the sector is expanding quickly, and federal oversight is moving in step. On Thursday (March 12), the U.S. Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight released new guidance addressing event-based derivatives or markets, including contracts tied to sports, politics, and other real-world outcomes. The advisory arrives as interest in prediction markets grows and as crypto-focused trading venues increasingly explore listing these types of products. Prediction markets are one of the most exciting innovations in financial markets. Yet for too long, the @CFTC has failed to provide guidance for these markets being used by millions of Americans. This ends today. Read what steps the agency is taking here… — Mike Selig (@ChairmanSelig) March 12, 2026 The document acknowledges the rising popularity of the markets but also stresses the need for tighter surveillance, stronger compliance systems, and clearer contract design. It also signals the agency’s intention to closely scrutinize exchanges that list event contracts. CFTC Chairman wrote on X: “Prediction markets are …

Lammy Sparks Confusion Over Legality Of RAF Jets Striking Iran

Lammy Sparks Confusion Over Legality Of RAF Jets Striking Iran

Published by Sam Flores

David Lammy has caused significant confusion after claiming RAF jets could legally strike at Iranian missile sites if they were considering attacking British targets. The deputy prime minister and justice secretary was trying to outline the government’s stance over the Iran war on Friday morning. It comes after the US and Israel initiated joint strikes on Iran last weekend, killing the country’s supreme leader Ali Khamenei. US secretary of state Marco Rubio said this was a “pre-emptive” attack. The UK has made it clear it is not part of any offensive action against Iran. However, the government has permitted the US to use its military bases to launch defensive, limited strikes against Iran. Britain is also sending forces to Cyprus after an Iranian drone strike targeted a sovereign UK base for the RAF on the island. As the conflict threatens to engulf other nations, wider questions are being asked over just how far Britain would go to protect its interests. Speaking to broadcasters on Friday, Lammy – who is also the former foreign secretary – …