Nevada judge extends ban on Kalshi, rejects event contract defense

A Nevada judge has extended a ban on Kalshi, a prediction market platform, ruling against its defense that the contracts offered are not gambling. The judge emphasized that the contracts do not meet the legal definition of event contracts under state law. Kalshi had sought to operate in Nevada, but the ruling prevents it from doing so for the time being. This decision highlights ongoing regulatory scrutiny of prediction markets and their classification under gambling laws.

Read the full article: Coin Telegraph