PANews reported on February 18th that, according to Business Insider, Nevada regulators have officially sued prediction market platform Kalshi. The regulators arePANews reported on February 18th that, according to Business Insider, Nevada regulators have officially sued prediction market platform Kalshi. The regulators are
Prediction market platform Kalshi sued in Nevada, USA
PANews reported on February 18th that, according to Business Insider, Nevada regulators have officially sued prediction market platform Kalshi. The regulators are reportedly seeking a court order to prohibit Kalshi from continuing to operate an "unlicensed sports betting business." They also noted Kalshi's rapid growth, with trading volume on Super Bowl Sunday this year being 27 times that of last year. As of now, a Kalshi spokesperson declined to comment, but disclosed that they have requested federal court to hear the case, pointing out that only federal law applies to prediction markets, and that the state's new enforcement action is based on the same issues being addressed in the federal court.
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