Nevada is taking action against the rapidly growing Wild West of prediction markets. The state’s gambling regulators and attorney general sued Kalshi on Tuesday. They accuse the company of bypassing Nevada law by operating a sports gambling market without proper licenses. In addition, they say Kalshi provides services to individuals under 21, which violates state law.
The lawsuit follows a federal appeals court’s rejection of Kalshi’s request to prevent the state from pursuing legal action. And it comes a day after the Trump administration claimed that only the federal government has the right to enforce the industry.
Prediction markets, which allow users to bet on events such as sports, political outcomes
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