Nevada court orders Kalshi to halt services for two weeks

JH Kim

Summary

A court in the U.S. state of Nevada reported that it ordered prediction-market platform Kalshi to temporarily suspend its services.
The court said, citing CoinDesk, that it issued a measure banning the provision of event contract services for two weeks.
As a result, Kalshi is expected to face unavoidable disruptions to its business operations in Nevada, and its legal battle with regulators is likely to continue.

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A court in the U.S. state of Nevada has ordered prediction-market platform Kalshi to temporarily suspend its services.

According to CoinDesk, a cryptocurrency-focused media outlet, on the 20th (local time), the court issued a measure barring Kalshi from offering event contract services for two weeks.

The ruling is a follow-up step after a federal appeals court previously rejected Kalshi’s request to stay administrative enforcement.

As a result, Kalshi is expected to face unavoidable disruptions to its operations in Nevada in the near term, with its legal battle with regulators likely to continue.