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Ninth Circuit denies Kalshi injunction against Nevada sports-betting rules

Regulation

The US Ninth Circuit Court of Appeals unanimously upheld the removal of Kalshi’s preliminary injunction against Nevada authorities over sports-related contracts. The court treated the contracts as sports bets rather than swaps under federal law, allowing Nevada to apply its gambling rules; Kalshi said it would seek further review.

The ruling leaves Nevada able to enforce state gambling rules against Kalshi’s sports-event contracts.

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Regulation

Ninth Circuit says Nevada can regulate Kalshi sports contracts under gaming law

The Ninth US Circuit Court of Appeals ruled that Nevada can require a gaming licence for Kalshi sports-event contracts, finding Kalshi unlikely to show that federal law pre-empts the state requirement. Kalshi said it would seek further review and maintained that federal rules permit sports contracts; Nevada regulators are also pursuing contempt proceedings and a previously ordered daily penalty.

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