U.S. Appeals Court Upholds Nevada Ban, Kalshi Prohibited from Offering Sports Prediction Contracts

ZkProver · 2026-03-20T11:03:58+00:00

The U.S. Ninth Circuit Court of Appeals rejected Kalshi's appeal, allowing Nevada regulators to enforce a ban prohibiting it from offering sports event contracts. Kalshi contended that its products fall under commodity futures jurisdiction, but it will be forced to exit the Nevada market within 14 days. Meanwhile, other prediction market platforms are also facing regulatory pressure.

ZkProver

2026-03-20 11:03:58

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ChainCatcher News: The Ninth Circuit Court of Appeals has denied the application from prediction market platform Kalshi, allowing Nevada regulators to enforce a temporary restraining order that bans it from offering sports-related contracts.

Previously, the Nevada Gaming Control Board determined that Kalshi’s products constituted unlicensed sports gambling and issued a cease and desist order in March. Kalshi argued that its event contracts fall under the jurisdiction of the U.S. Commodity Futures Trading Commission.

Reports indicate that because the temporary restraining order cannot be appealed under state law, Kalshi is expected to exit the Nevada market within at least 14 days until a preliminary injunction hearing is held. Additionally, several prediction market platforms, including Polymarket, Crypto.com, and Coinbase, are also facing regulatory pressure in multiple states.

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