Nevada Court Rules Kalshi Event Contracts as Gambling
- Judge Jason Woodbury issued a preliminary injunction against Kalshi on April 3, 2026.
- The Nevada Gaming Control Board successfully argued that event contracts require a state gaming license.
- Kalshi must implement mandatory geofencing by May 4, 2026, to block all Nevada-based participants.
- The court rejected Kalshi’s argument that its products are “swaps” under the Commodity Futures Trading Commission (CFTC).
- Kalshi plans to appeal the decision while facing similar legal challenges in other jurisdictions, including Arizona.
Judge Woodbury of the First Judicial District Court ruled that Kalshi’s event contracts are unlicensed gambling, extending a temporary restraining order from March. The ruling mandates geofencing to prevent access by Nevada residents.
Kalshi has until May to comply with the court’s requirements while it seeks an appeal amidst ongoing legal issues elsewhere (Source).
