By SectorWire desk ·
Nevada authorities argued in a court filing that Kalshi’s acceptance of a North Carolina revenue tax acknowledges states’ authority over prediction markets. The filing forms part of Nevada’s legal dispute with Kalshi.
Nevada uses Kalshi’s acceptance of North Carolina’s revenue tax to argue that states have authority over prediction markets.
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The dispute concerns whether states can apply gambling rules to sports-event contracts offered by federally regulated exchanges.
The findings bear on state challenges to Kalshi and Polymarket's position that their contracts fall exclusively under CFTC jurisdiction.
The analysis questions Kalshi’s explanation for concentrated activity in its ether perpetual contracts.
The new contracts allow partial settlement rather than requiring players to reach the full statistical target.
The dispute could affect whether prediction market operators face state gambling laws alongside federal oversight.
The denial challenges Kalshi’s account of a tribal partnership.