US appeals court sides with Nevada in legal fight with Kalshi

The 9th U.S. Circuit Court of Appeals rejected Kalshi’s bid to block Nevada’s regulation of its prediction-market platform, affirming the state’s authority. Nevada’s gambling regulators and attorney general sued Kalshi in February, alleging the platform bypassed the required sports-gambling license. Similar lawsuits have been filed by Connecticut, Rhode Island, New York, and Arizona, while a federal court ruled in April that New Jersey lacks regulatory power over Kalshi.