Ninth Circuit Denies Kalshi’s Request, Allowing Nevada Enforcement
- The Ninth Circuit Court of Appeals denied Kalshi’s motion for an administrative stay.
- Nevada can now pursue civil enforcement action against Kalshi and seek a temporary restraining order (TRO).
- Kalshi might appeal to the U.S. Supreme Court’s emergency docket to block enforcement.
Federal appeals judges have rejected Kalshi’s request to pause enforcement, potentially allowing Nevada to quickly shut down its operations. The case questions whether Kalshi’s contracts fall under federal commodities regulation or state gambling laws.
With no administrative stay in place, Nevada is poised to enforce actions against Kalshi, increasing pressure unless the Supreme Court intervenes. (Source)
