Are Nevada regulators illegally keeping Kalshi out of state? Federal judges skeptical
Are Nevada regulators illegally keeping Kalshi out of state? Federal judges skeptical In a more than two-hour hearing, the 9th Circuit discussed several cases in which Nevada gaming regulators want the businesses kept away from the state. Howard Stutz April 16th, 2026 at 2:18 PM Three 9th Circuit Court of Appeals judges appeared skeptical of arguments by attorneys for Kalshi and two other prediction markets that Nevada gaming regulators are unfairly keeping the businesses out of the state. During a more than two-hour hearing in San Francisco involving the Nevada Gaming Control Board's lawsuits against Kalshi and two other prediction market operators, Crypto.com and Robinhood Derivatives, the judges sought to distinguish the business differences from Nevada's regulated sportsbooks and the companies that are regulated federally by the federal Commodity Futures Trading Commission (CFTC). "Explain to me the difference between a sports bet that happens in Caesars and a sports b...