A state judge ruled that Kalshi’s prediction markets offering sports bets were “indistinguishable” from gambling, and extended a temporary ban in Nevada.
Updated Apr 4, 2026, 9:38 p.m. Published Apr 4, 2026, 7:04 a.m.
A state judge in Nevada extended a temporary ban on prediction market provider Kalshi’s sports-related contracts in the Silver State on Friday.
Judge Jason Woodbury in the First Judicial District Court told attorneys at a hearing in the Carson City courthouse that he would also grant the Nevada Gaming Control Board’s request to impose a preliminary injunction against Kalshi banning it from offering some of its prediction markets until a broader court case from the state gaming regulator could be resolved. He extended the temporary restraining order he first granted on March 20 by two weeks to sort out the language of the injunction, Reuters reported Friday.
The judge’s original temporary restraining order blocked Kalshi from offering sports, entertainment and election-related bets.
The judge said buying a contract on a baseball game on Kalshi was “indistinguishable” from placing a bet on a state gaming platform, Reuters reported.
“So I find based on the arguments that have been presented that it is a gaming activity that is prohibited for any non-licensee to engage in,” he said.
Spokespeople for Kalshi did not return requests for comments.
Mike Dreitzer, the chairman of the Nevada Gaming Control Board, said in a statement, ” I’m very pleased with today’s ruling and will continue to vigorously enforce Nevada law to safeguard gaming in our state.”
The board’s statement said it considers sports event contracts “to constitute wagering activity” under local laws and require licensing.
“Nevada’s public policy, as expressed by the Legislature, is that the gaming industry is vitally important to the economy of the state and the general welfare of the inhabitants and therefore must be licensed, controlled, and assisted to protect the public health, safety, morals, good order, and general welfare of the inhabitants of the state,” the board said in a press release.
State regulators have moved to block prediction market providers in much of the U.S., arguing that these companies’ sports-related products appear to be gambling products that should be regulated at the state level. Kalshi and other prediction market providers argue that they are federally regulated designated contract markets offering swaps, a type of derivative product, and therefore are not subject to state regulators.
The Commodity Futures Trading Commission, helmed by Chairman Mike Selig, has taken a stance agreeing with these companies. It filed an amicus brief in an appeals court case earlier this year, and sued Arizona, Illinois and Connecticut on Thursday alongside the Department of Justice, arguing that it is the proper regulator and alleging that the states are infringing on its role.
The hearing took place the same day as another hearing at a federal court in Arizona. In that hearing, Kalshi had filed to block state regulators from filing to block the prediction market provider’s products in the state. Arizona Attorney General Kris Mayes had previously filed an information alleging criminal charges against Kalshi.
According to the court docket, District Judge MIchael Liburdi heard arguments and is considering the motion.
UPDATE (April 4, 2026, 21:34 UTC): Adds Nevada Gaming Control Board statement.
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