Overview
- Carson City’s First Judicial District Court issued a temporary restraining order blocking Kalshi’s sports, election, and entertainment contracts for 14 days, the first state-ordered halt of the platform.
- The order takes immediate effect and, according to legal experts, cannot be appealed under Nevada law, requiring Kalshi to suspend operations in the state during the period.
- A day earlier, the Ninth Circuit denied Kalshi’s emergency stay request, clearing Nevada regulators to pursue the restraining order and continue the case in state court.
- A preliminary-injunction hearing is scheduled for April 3 that could extend the suspension while the lawsuit proceeds, and Kalshi declined to comment on the ruling.
- The Nevada action comes the same week Arizona filed a 20-count criminal case, as the CFTC under Chair Michael Selig asserts exclusive federal jurisdiction in the widening state–federal dispute over prediction markets.