Kalshi's Nevada Ban Continues, Permanent Injunction Coming [Yahoo! Finance]
Coinbase Global, Inc. - 3Class A (COIN)
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Source: Yahoo! Finance
Kalshi has lost another key court battle in Nevada, keeping the prediction market platform from offering event outcome contracts in the Silver State. Key Takeaways A Nevada judge wasn't convinced of Kalshi's argument that “swaps” aren't the same as bets. The 14-day ban was extended to April 17 to buy time for a permanent injunction. Nevada is the first U.S. state to effectively ban Kalshi from offering event contracts. Judge Jason Woodbury extended a 14-day ban on Friday that was set on March 20 to April 17, and he indicated this gives him time to issue a permanent injunction against Kalshi , according to a Reuters report The prediction market company filed a lawsuit last year against the Nevada Gaming Control Board, arguing that its federally regulated platform allows it to offer sports contracts in all 50 states. Regulators claimed that Kalshi's sports contracts violated state gaming laws. The losing argument Nevada has sought to take action against Kalshi for opera
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