Kalshi challenges Nevada and New Jersey actions against sports markets
Kalshi chief executive Takek Mansour said the company is bringing a legal challenge against gambling regulators in Nevada and New Jersey over its sports event markets. He said the states’ cease-and-desist orders misunderstand prediction markets and argued that Kalshi is regulated federally by the Commodity Futures Trading Commission.
The challenge tests whether federal regulation limits state authority over Kalshi’s sports event markets.