Ninth Circuit Court Denies Kalshi's Bid to Halt Nevada Enforcement

The Ninth Circuit Court of Appeals has denied Kalshi's emergency request to suspend Nevada's enforcement actions against its prediction-market operations. According to NS3.AI, this ruling permits Nevada to swiftly pursue civil enforcement, which could lead to the cessation of Kalshi's activities within the state. The legal dispute centers on whether Kalshi's contracts are considered federally regulated commodities or if they fall under the category of illegal gambling according to state legislation.