US federal appeals court rejects Kalshi request…Nevada regulators cleared to enforce rules
JH Kim
Summary
- A US federal appeals court said it rejected prediction-market platform Kalshi’s request to halt Nevada’s administrative enforcement action.
- As a result, it said Nevada regulators have been left with a path to issue a temporary restraining order against Kalshi.
- It said the decision is once again highlighting the potential for conflict between federal regulatory authority and state regulation.
Forecast Trend Report by Period
A US federal appeals court has rejected a request by prediction-market platform Kalshi to halt Nevada’s administrative enforcement action.
According to cryptocurrency-focused media outlet CoinDesk on the 19th (local time), Kalshi filed an appeal on March 13, arguing that “if the request is not granted, federal court and state court rulings could conflict.”
However, with the appeals court declining to grant the request, Nevada regulators have been left with a path to issue a temporary restraining order against Kalshi.
Analysts say the decision is once again highlighting the potential for conflict between federal regulatory authority and state-level regulation.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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