Gate News message: On April 4, a judge in Nevada, USA ruled that Kalshi’s sports prediction market products and gambling activities are “not materially different,” and decided to extend the temporary injunction previously issued. The judge also granted the state’s application for a preliminary injunction, barring it from continuing to offer related contract services locally until further proceedings in the case. The injunction was initially issued on March 20 and covers prediction markets related to sports, entertainment, and elections. Regulators believe the relevant products should be subject to state gambling regulations, while Kalshi argues that it is a derivatives market regulated at the federal level. Currently, jurisdiction over the relevant regulatory authority remains in dispute.
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