Kalshi Is Subject to Nevada Gaming Regulation, Judge Rules (2)

A federal judge in Las Vegas dealt a blow to Kalshi Inc.’s sports-betting business in Nevada by allowing state gaming regulators to take enforcement actions against the predictions-market startup.

US District Judge Andrew Gordon lifted his April order blocking such actions by the Nevada Gaming Commission and the Nevada Gaming Control Board, according to an order made public on Tuesday.

The ruling is a setback for Kalshi, which has advanced the same argument in multiple legal battles with state regulators — that it is a derivatives exchange only subject to regulation at the federal level by the US Commodity ...