- Today
- Holidays
- Birthdays
- Reminders
- Cities
- Atlanta
- Austin
- Baltimore
- Berwyn
- Beverly Hills
- Birmingham
- Boston
- Brooklyn
- Buffalo
- Charlotte
- Chicago
- Cincinnati
- Cleveland
- Columbus
- Dallas
- Denver
- Detroit
- Fort Worth
- Houston
- Indianapolis
- Knoxville
- Las Vegas
- Los Angeles
- Louisville
- Madison
- Memphis
- Miami
- Milwaukee
- Minneapolis
- Nashville
- New Orleans
- New York
- Omaha
- Orlando
- Philadelphia
- Phoenix
- Pittsburgh
- Portland
- Raleigh
- Richmond
- Rutherford
- Sacramento
- Salt Lake City
- San Antonio
- San Diego
- San Francisco
- San Jose
- Seattle
- Tampa
- Tucson
- Washington
Carson City Today
By the People, for the People
Nevada Judge Extends Ban on Kalshi Sports Prediction Markets
State regulators argue Kalshi's sports-related products are illegal gambling, while the company says it offers federally regulated derivatives.
Apr. 4, 2026 at 7:04am
Got story updates? Submit your updates here. ›
As prediction markets face increased scrutiny from state regulators, the legal status of these emerging financial products remains uncertain.Carson City TodayA Nevada state judge has extended a temporary ban on prediction market provider Kalshi's sports-related contracts in the state, ruling that Kalshi's offerings are "indistinguishable" from illegal gambling. The judge granted the Nevada Gaming Control Board's request for a preliminary injunction, blocking Kalshi from offering sports, entertainment, and election-related bets until a broader court case can be resolved.
Why it matters
This case highlights the ongoing legal battle between state regulators and prediction market providers over the classification of these products. While Kalshi argues its offerings are federally regulated derivatives, state authorities contend they are illegal gambling that should be subject to state-level oversight and licensing.
The details
In a hearing at the First Judicial District Court in Carson City, Judge Jason Woodbury told attorneys that he would grant the Nevada Gaming Control Board's request for a preliminary injunction against Kalshi. The judge extended a temporary restraining order he had first issued on March 20, blocking Kalshi from offering sports, entertainment, and election-related bets. Woodbury said Kalshi's baseball game contracts were "indistinguishable" from sports betting, and therefore constituted prohibited gaming activity under Nevada law.
- On March 20, 2026, Judge Woodbury issued the initial temporary restraining order against Kalshi.
- On April 4, 2026, Judge Woodbury extended the temporary ban and granted the Nevada Gaming Control Board's request for a preliminary injunction.
The players
Judge Jason Woodbury
A judge in the First Judicial District Court in Carson City, Nevada who ruled to extend the temporary ban on Kalshi's sports-related prediction markets.
Nevada Gaming Control Board
The state regulatory agency that filed for the preliminary injunction against Kalshi, arguing its sports-related products constitute illegal gambling.
Kalshi
A prediction market provider that offers contracts on sports, entertainment, and election outcomes, which it argues are federally regulated derivatives rather than gambling.
What they’re saying
“So I find based on the arguments that have been presented that it is a gaming activity that is prohibited for any non-licensee to engage in.”
— Judge Jason Woodbury, Judge, First Judicial District Court
What’s next
The preliminary injunction against Kalshi will remain in place until the broader court case between the company and the Nevada Gaming Control Board is resolved.
The takeaway
This case highlights the ongoing regulatory uncertainty around prediction markets, with state authorities seeking to classify them as illegal gambling while the companies argue they are federally regulated derivatives. The outcome could set an important precedent for how these emerging financial products are treated across the United States.
