Kalshi Takes Legal Action Against Nevada & New Jersey over Sports Betting Ban

Prediction market operator Kalshi has filed a lawsuit against the Nevada Gaming Control Board and the New Jersey Division of Gaming Enforcement, challenging recent cease-and-desist orders that have forced it to halt sports-related contract operations in both states. Kalshi argues its contracts fall under the purview of the Commodity Futures Trading Commission (CFTC) due to their unique nature as two-sided swap markets.