The US District Court as chairman of moods involving federal prediction markets is permitted under the state’s laws on sports games must determine whether the Nevada Resort Association can intervene in the case.
Court documents show that the Office of the Nevada-Riksdoat welcomes NRA to intervene in the case, while New York-based Kalshiex LLC, a prediction market that offers sports contracts across the country, opposes NRA’s intervention.
US District Court Andrew Gordon has given NRA until Wednesday to respond to Kalshi’s petition to reject NRA’s participation.
NRA believes it has an interest in the case because NRA 2024 took Nevada’s legal sports betting industry of $ 7.8 billion in sports games and NRA represents 70 casinos in the entire country. The organization predicted “seismic” changes in the Nevada Sports initiative on Kalshi and other prediction markets may offer future contracts at sporting events.
“Kalshi has repeatedly advertised on social media such as offering” sports games “, says a previous NRA court application.” Sample tags include: “The first nationwide legal sports game platform;” “Betting on Kalshi, the first app for legal sports games in all 50 states;” and “Sports games legal in all 50 states at Kalshi.”
Nevada Gaming Control Board claims that Kalshi must have a state gaming license to offer the contracts it publishes on its website. Kalshi expects it to be regulated by the Federal Commodity Futures Trading Commission, as it says has exclusive jurisdiction of futures trading and that the federal monitoring of the market replaces the state’s gaming regulation.
This is a developing story. Come back for updates.
Contact Richard N. Velotta at rvelotta@ theplayerlounge.com or 702-477-3893. Follow @rickvelotta at X.
