Nevada sues Kalshi to block company’s prediction market operation in state

The Guardian - World NewsCenter-LeftEN 2 min read 100% complete by ReutersFebruary 18, 2026 at 03:11 PM

AI Summary

medium article 2 min

Nevada is suing prediction market operator Kalshi to prevent the company from offering event contracts, including those related to sports, within the state. The lawsuit is part of a broader dispute over whether state gaming regulators can police prediction markets. Nevada argues that Kalshi's event contracts constitute wagering and require a state license, which Kalshi lacks. This action follows a similar injunction obtained in Massachusetts, though it is currently stayed pending appeal. Kalshi contends that its contracts are swaps under the exclusive jurisdiction of the Commodity Futures Trading Commission (CFTC), which supports this view. Kalshi is attempting to move the case to federal court based on this jurisdictional argument.

Key Entities & Roles

Key Player Opposition Context

New York 30% Coinbase 40% Polymarket 40% Massachusetts 50% Commodity Futures Trading Commission 70% Nevada Gaming Control Board 75% Nevada ×785% Kalshi ×1090%

Keywords

prediction market 100% kalshi 90% sports events contracts 80% gaming regulations 80% nevada 70% jurisdiction 60% commodity futures trading commission 60% lawsuit 50% wagering activity 50% financial bets 40%