Federal Appeals Court Rejects Kalshi Bid to Pause Nevada Enforcement

A federal appeals court has denied Kalshi's request to pause the enforcement of a Nevada law that prohibits the trading of event contracts related to certain political outcomes. The law, which Kalshi argues could significantly impact its business model, was upheld by the court, emphasizing the state's authority to regulate such activities. Kalshi, a platform for trading on event outcomes, plans to continue its legal battle against the enforcement of the law. The decision marks a setback for the company as it seeks to expand its operations in the U.S. market.

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