Nevada court bans Kalshi prediction market contracts

A Nevada court has issued a 14-day ban on a wide array of contracts offered by prediction market firm Kalshi, escalating its legal battle with state regulators. The temporary restraining order halts Kalshi's sports, entertainment, and election contracts within the state, following a dispute over regulatory authority. The court sided with the Nevada Gaming Control Board, stating Kalshi's unlicensed operation obstructs the board's functions. This development occurs as Kalshi faces similar challenges in other states and as federal regulators, like the CFTC, assert their own jurisdiction over prediction markets.