All posts tagged: Nevada

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 …

Amid legal turmoil, Kalshi is temporarily banned in Nevada

Amid legal turmoil, Kalshi is temporarily banned in Nevada

Published by skeptic

Kalshi isn’t having a very good week. On Tuesday, the attorney general of Arizona filed a 20-count criminal complaint against the online prediction market, accusing it of running an illegal gambling business. Now, another southwestern state has taken a big swing at the company: A judge in Nevada has temporarily banned the service from operating there as part of an ongoing court case brought by state regulators. Nevada, on behalf of its Gaming Control Board, sued Kalshi in February in an effort to block the prediction site from operating. Officials maintain that Kalshi has failed to acquire the appropriate gaming licenses that would cover the kind of betting activity its users are engaged in and that, by allowing users under the age of 21 to use its services, it violates state law. Earlier this month, the state requested a temporary restraining order against Kalshi as part of its ongoing case. In a state court on Friday, Judge Jason D. Woodbury granted the state’s request and scheduled a hearing on the restraining order for early next …

Kalshi Has Been Temporarily Banned in Nevada

Kalshi Has Been Temporarily Banned in Nevada

Published by skeptic

Kalshi has been temporarily banned in Nevada, marking the latest escalation in the widening regulatory war over prediction markets. The First Judicial District Court of Nevada has issued a 14 day restraining order, effective immediately, barring the company from “offering a derivatives exchange and prediction market which offers event-based contracts relating to sports, election, and entertainment related events” without first obtaining gaming licenses. This is the first time a US state has forced the company to cease operations. Kalshi declined to comment. This particular legal battle began just over a year ago, when Nevada regulators sent Kalshi a cease-and-desist letter demanding that it stop offering sports-related events contracts. That initiated a messy tug-of-war between plaintiffs and defendants as the case moved between state and federal court. Until now, Kalshi could keep operating in the state as its lawyers sparred with authorities in what the company has described as a “jurisdictional quagmire.” After the 14 days, the court will then assess whether to extend the ban for the duration of the court case. “The expectation here …

Nevada court blocks Kalshi contracts intensifying clash over prediction markets legality

Federal judge denies Kalshi stay bid to pause Nevada gaming enforcement case

Published by skeptic

A federal judge in Nevada has refused to put a legal fight between state regulators and prediction-market operator Kalshi on hold, clearing the way for the dispute to return to state court. U.S. District Judge Miranda M. Du ruled Thursday (March 12) that Kalshi does not qualify for an automatic pause of the proceedings and also failed to meet the legal threshold required for a discretionary stay. Because of that decision, the lawsuit brought by Nevada regulators will move back to the First Judicial District Court in Carson City. BREAKING: Nevada federal court denies Kalshi's emergency motion to stay the @NevadaGCB's civil enforcement action vs. Kalshi pending appeal of the court's remand order and orders that the case be sent back to state court (where an imminent TRO grant awaits). pic.twitter.com/nkEztYEy4v — Daniel Wallach (@WALLACHLEGAL) March 12, 2026 Nevada filed the case through the Nevada Gaming Control Board, arguing that Kalshi’s event-based trading markets amount to unlicensed gambling under state law. The company shifted the case to federal court earlier in the dispute, but the …

Elon Musk’s Proposed Tesla Tunnel Loop Met With Opposition by Nashville Metro Council

Elon Musk’s Proposed Tesla Tunnel Loop Met With Opposition by Nashville Metro Council

Published by Sam Flores

NASHVILLE, Tenn. (AP) — Elon Musk’s proposed Tesla tunnel loop under the streets of Nashville was met with opposition Tuesday by the metro council, which passed a resolution to put their concerns about safety, transparency and a lack of local input on the record. The resolution, with 20 members voting for and 15 against with two abstaining, can’t force one of Musk’s companies to stop, stall or change their plans for the Music City Loop. But Nashville officials want to register their grievances after the politically connected tech billionaire’s company, The Boring Company, teamed up with willing state government partners to bypass local authority. In July, Republican Tennessee Gov. Bill Lee and The Boring Company announced plans for the Music City Loop, featuring an initial 13-mile (21-kilometer) stretch that would include connecting the airport and downtown, which was later expanded to about 25 miles to include a second leg west of downtown. They promised a project that would come at no cost to taxpayers, albeit with free use of some state land near the Capitol. …

Nevada regulators ban Wayne Nix from casinos over illegal gambling case

Nevada regulators ban Wayne Nix from casinos over illegal gambling case

Published by skeptic

Nevada gambling regulators have formally barred former professional baseball player Wayne Joseph Nix from entering any licensed casino in the state, pointing to his role in a sprawling illegal sports betting operation that drew federal scrutiny and touched several high-profile figures. During a public meeting on Thursday (February 26), members of the Nevada Gaming Commission voted unanimously to add Nix to the state’s List of Excluded Persons. The designation, often referred to as the state’s casino blacklist, prohibits individuals deemed a threat to the integrity of regulated gaming from stepping inside licensed properties. No discussion needed by the board. The Nevada Gaming Commission unanimously placed illegal bookmaker Wayne Nix on the state's List of Persons Excluded from entering a casino in the state. The list is commonly referred to as the Black Book.@TheNVIndy — Howard Stutz (@howardstutz) February 26, 2026 The order, published the following day, instructs all nonrestricted license holders across Nevada to ensure Nix is not allowed onto their gaming floors or other casino premises. Nix, 49, lives in Newport Coast, California. Federal …

Nevada lawmaker Titus introduces Fair Markets and Sports Integrity Act targeting prediction markets

Nevada lawmaker Titus introduces Fair Markets and Sports Integrity Act targeting prediction markets

Published by skeptic

A Nevada member of Congress is taking aim at a fast-growing corner of the financial markets that looks a lot like sports betting. Rep. Dina Titus, D-Nev., on Monday (February 23) rolled out the “Fair Markets and Sports Integrity Act,” a bill designed to stop federally regulated commodities exchanges from offering contracts tied to sporting events or casino-style games. The proposal was sent to the House Committee on Agriculture, which has jurisdiction over the Commodity Exchange Act. If approved, the measure would change that law to make it illegal for registered exchanges and similar entities to list, facilitate or clear trades connected to sports competitions or gambling-style games. Prediction markets should not be able to circumvent state gaming laws. Consumers deserve transparency, accountability, and protection against such predatory practices. That is why I introduced the Fair Markets and Sports Integrity Act to prevent entities from engaging in… pic.twitter.com/VnVGEXQuGc — Dina Titus (@repdinatitus) February 10, 2026 The bill’s language is sweeping. It would bar any registered entity from offering “any agreement, contract, or transaction that is …

Crews Recover Bodies of 9 Backcountry Skiers Days After California Avalanche

Crews Recover Bodies of 9 Backcountry Skiers Days After California Avalanche

Published by Sam Flores

TRUCKEE, Calif. (AP) — Crews recovered the bodies of nine backcountry skiers who were killed by an avalanche in California’s Sierra Nevada, authorities said Saturday, concluding a harrowing operation that was hindered by intense snowfall. A search team reached the bodies of eight victims and found one other who had been missing and presumed dead since Tuesday’s avalanche on Castle Peak near Lake Tahoe. The ninth person who was missing was found “relatively close” to the other victims, according to Nevada County Sheriff’s Lt. Dennis Hack, but was impossible to see due to whiteout conditions at that time. At a news conference, Sheriff Shannon Moon praised the collective efforts of the numerous agencies that helped recover the bodies — from the California Highway Patrol to the National Guard to the Pacific Gas & Electric utility company — and 42 volunteers who helped on the last day of the operation. “We are fortunate in this mountain community that we are very tight-knit, and our community shows up in times of tragedy,” Moon said. The sheriff named …

Nevada presses federal judge to return Kalshi case to state court

Nevada presses federal judge to return Kalshi case to state court

Published by skeptic

Nevada officials want a federal judge to send their lawsuit against KalshiEX, LLC back where it started, in state court. In an emergency motion filed Wednesday (February 18) in the U.S. District Court for the District of Nevada, the State of Nevada, acting through the Nevada Gaming Control Board, asked Chief U.S. District Judge Andrew P. Gordon to remand the case after Kalshi removed it from state court. "In other words, a federal statute must not only override state law, but also give plaintiffs a federal claim they can use in its place—one that lets them seek relief for the same alleged harm, just in federal court under federal law instead of under state law." pic.twitter.com/jVWim1ufJN — Daniel Wallach (@WALLACHLEGAL) February 19, 2026 Nevada first sued under its own gaming laws, accusing Kalshi of running what regulators describe as unlicensed sports betting within the state. According to the motion, “The Board brought this civil enforcement action under Nevada gaming law to enjoin Defendant KalshiEX LLC (Kalshi) from offering unlicensed sports betting in Nevada.” State regulators …