It is business as usual for Kalshi in Nevada after the company was granted an injunction against the state gaming control board.
US District Court Judge Anthony Gordon set out his ruling following the initial decision on Tuesday (April 8) to grant Kalshi’s request against the Nevada regulator.
It represents a key victory for the prediction market platform amid ongoing legal cases, while it can continue to operate in the Silver State.
The state of Nevada, as well as New Jersey, issued a cease and desist order to the company relating to the offering and trading of contracts on sports events. This led to reciprocal action from Kalshi.
Judge Gordon’s 17-page findings included the following:
“Kalshi has shown a likelihood of success on the merits. Conversely, the defendants have not shown a likelihood of success on their countermotion for injunctive relief, so I deny their motion.”
Today, the Federal Court in Nevada granted Kalshi's preliminary injunction and blocked the State from trying to prevent Kalshi from offering prediction markets.
We are grateful for the court’s careful attention to this matter and recognition of Kalshi’s status as a… pic.twitter.com/oxZpgkWWGX
— Tarek Mansour (@mansourtarek_) April 9, 2025
Receptive outcome as the case continues
This is another milestone ruling to protect the position and operations of the Lower Manhattan-based financial exchange and prediction market following the victory over the Commodity Futures Trading Commission (CFTC) in October last year.
That outcome enabled the platform to offer contracts during the US Presidential election process, which culminated in Donald Trump’s return to the White House.
However, this latest ruling from Judge Gordon is not a definitive victory for Kalshi, as the case is ongoing.
The award of the injunction is still very important, as it marks the first reading from a federal judge and a positive indicator of the merits of their position.
Kalshi’s argument states that it is a federally regulated entity and should not be subject to state-level specific regulations on sportsbook activity.
Kalshi has also received similar cease-and-desist orders from regulators in Illinois, Maryland, Montana, and Ohio, but no subsequent legal moves have been made in those states.
Image credit: Grok/X
