News (Proprietary)
Prediction Market Leader Kalshi Suffers Legal Blow as Nevada Court Rules Platform Subject to State Gaming Laws
16+ hour, 29+ min ago (1294+ words) Kalshi, a New York-based prediction market launched in 2021, allows users to bet on any future event" from presidential election results to the price of Bitcoin at the end of the year to the number of points an NBA star will score in a particular game"even in states where certain online betting activities are illegal. The platform has consistently argued that their operations remain outside of the remit of state gambling regulations because the contracts they facilitate fall under the authority of the U.S. Commodity Futures Trading Commission (CFTC). Kalshi, a New York-based prediction market launched in 2021, allows users to bet on any future event" from presidential election results to the price of Bitcoin at the end of the year to the number of points an NBA star will score in a particular game"even in states where certain online betting…...