From 213ca816d9826718277418b521d84723383abd39 Mon Sep 17 00:00:00 2001 From: wiequincy19353 Date: Wed, 29 Apr 2026 10:13:25 +0000 Subject: [PATCH] Add 'Nevada Sends Cease-and-Desist Order To Kalshi' --- Nevada-Sends-Cease-and-Desist-Order-To-Kalshi.md | 14 ++++++++++++++ 1 file changed, 14 insertions(+) create mode 100644 Nevada-Sends-Cease-and-Desist-Order-To-Kalshi.md diff --git a/Nevada-Sends-Cease-and-Desist-Order-To-Kalshi.md b/Nevada-Sends-Cease-and-Desist-Order-To-Kalshi.md new file mode 100644 index 0000000..3ffd833 --- /dev/null +++ b/Nevada-Sends-Cease-and-Desist-Order-To-Kalshi.md @@ -0,0 +1,14 @@ +
The last couple of months for prediction company Kalshi have seen a [whirlwind](https://classifieds.ocala-news.com/author/bethwatters) of activity with unpredictability, and on Tuesday the [operator](http://grupogramo.com/post-formats/post-with-gallery-format/) took another hit.
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The Nevada Gaming Control Panel (NGCB) provided a cease-and-desist order to Kalshi to end their [operations](http://47.86.29.43000/jacquettaepste) in the Silver State and exit the [marketplace](http://grupogramo.com/post-formats/post-with-gallery-format/) on Friday, March 14 by 5 p.m., pointing out infractions of state gaming laws and for engaging in illegal video gaming such as "event-based contracts" on sporting events and election results, all of which are unlawful in the state unless [authorized](http://jeegel.com/bbs/board.php?bo_table=board&wr_id=387105) as a [licensed gaming](http://139.159.153.1433000/zacklevi874876/the-bet-naija-promo-code-for-2026-is-yohaig/wiki/The-Bet9JA-promo-code-2026-is-YOHAIG) operator by the Nevada Gaming Commission (NGC).
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Any [non-compliance](https://www.garagesale.es/author/anitabecerr/) to the order could lead to criminal or civil penalties.
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"Every sports swimming pool in Nevada must go through a substantial examination prior to licensing, need to adhere to rigorous policy as soon as accredited, and need to pay all appropriate taxes and costs," stated NGCB Chairman Kirk Hendrick in the letter.
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"Any illegal efforts to circumvent Nevada's right to regulate gaming activity within its borders will be met the full blast of criminal and civil charges."
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Prediction markets such as Kalshi, Polymarket, Augur and PredictIt differ from standard sportsbooks in that they are regulated at the federal level by the Commodity Futures Trading [Commission](http://cespedypavimentos.es/blog/40_felpudos-vinilo-rizo-pvc.html) (CFTC), permitting them to run across all 50 states.
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The CFTC is an independent federal [regulative agency](https://foro1025.mx/?p=5018) tasked with managing the U.S. derivatives markets. This regulatory difference has created significant concerns with state video gaming authorities, especially in Nevada, which [enforces stringent](https://sciencewiki.science/wiki/User:IsabelCorbin5) oversight on gambling-related activities.
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Kalshi blew up onto the American landscape with their real-time markets on last November's Presidential [election](http://postermerkezi.com/poster-baskilariniz/).
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"While we're dissatisfied with the Commission's assessment, Kalshi has actually always held the utmost respect for regulators and the regulative process. We have actually been a federally managed exchange for over four years and a federally managed clearinghouse for about six months. We are proud to have actually paved the method for forecast markets to grow in the U.S. We look forward to a speedy resolution to this matter and to guaranteeing that Americans continue to have access to safe, controlled, and transparent prediction markets," said an official Kalshi spokesperson on the matter.
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Titus Letter
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All of this begins the heels of a letter sent by Nevada Congresswoman Dina Titus (D) in late February.
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Titus, who has actually represented Nevada's First District because 2013, announced in a tweet back on Feb. 24 that she had sent out a letter due to concerns about legislating forecast markets on sports contracts, arguing it might undermine state-regulated sports betting, consumer protections, and tax profits adding that it is a backdoor way to allow sports wagering in all 50 states.
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The CFTC will be holding a [public roundtable](https://menu.tasocakfirin.com/blog/best-leather-bags/) later this month to go over regulating prediction markets, including sports-related contracts. The commission had asked for public input on the matter, likewise [referred](https://www.mediterranea-traiteur.be/uncategorized/hello-world/) to as Titus' letter, by Feb.
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