A Nevada court has extended its ban on Kalshi, ruling that its event-based contracts qualify as gambling under state law. As a result, the company must obtain a gaming license to operate within the jurisdiction.
Kalshi argued that its products function as financial derivatives and should fall under federal regulatory oversight. However, the court rejected this argument, stating that the contracts closely resemble traditional betting activities.
The case underscores growing regulatory tension around prediction markets, as authorities continue to debate whether such platforms should be governed under financial regulations or existing gambling laws in different jurisdictions.
Source: X.com
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