Federal Appeals Court Rejects Kalshi Bid to Pause Nevada Enforcement

A federal appeals court refused Kalshi’s request to pause Nevada’s enforcement actions, a decision that the court said clears a path for the state to proceed against the prediction-market operator ^[1].

Nevada has sued Kalshi after the platform lost its bid to halt state action; state regulators are seeking to block the company from offering certain contracts, including sports-based event contracts, within Nevada ^[2][3][4].

Kalshi is pressing to have the dispute heard in federal court, arguing it is governed by federal commodity exchange laws, but the appeals-court ruling limits the company’s immediate ability to stop Nevada’s enforcement while those venue and regulatory questions are litigated ^[3][1].

The appeals decision enables Nevada’s enforcement action to move forward while Kalshi continues to pursue federal relief, a development that legal experts say leaves Kalshi with constrained options in the near term ^[1][3].