Kalshi's Legal Battle: Prediction Market's Federal License Challenged

Kalshi, a prediction market company, faces a significant setback in Nevada as a preliminary injunction protecting them from state enforcement is dissolved. The company, which allows users to bet on future events, argues their federal license should allow nationwide operation. However, Nevada regulators disagree, leading to legal battles. Despite these challenges, Kalshis trading volume has surged and its valuation reached eleven billion dollars after a major fundraising round. The company has filed an emergency motion for a stay during their appeal process, with a judges decision expected by December twelfth.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.