Appeals court denies Kalshi’s bid to stave off ban in Nevada
US gaming lawyer Daniel Wallach says a Nevada state court-issued restraining order against Kalshi appears imminent, preventing it from offering sports-related contracts.
A federal appeals court has cleared Nevada state authorities to enforce a temporary restraining order on Kalshi to block its sports event contracts.
The Ninth Circuit Appeals Court on Thursday denied Kalshi’s emergency request to stay a lower court proceeding, meaning the case will be sent back to federal court and will allow Nevada’s regulators to take action.
Gaming lawyer Daniel Wallach said a temporary restraining order (TRO) against Kalshi now appears imminent, and added that it wouldn’t be able to operate in Nevada for at least 14 days until a preliminary injunction hearing is held: