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    HomeLearnNevada Prediction Markets
    Regulation
    July 20266 min read

    Nevada Prediction Markets

    Nevada blocked Kalshi by court order in April 2026 and has a contempt hearing July 16. It is the most aggressively enforced state prediction market case in the US.

    Contempt hearing: July 16, 2026

    Nevada's First Judicial District Court holds a full-day hearing to determine whether Kalshi violated its injunction. Nevada residents cannot access Kalshi sports, election, or entertainment contracts while the court order remains in effect.

    Current Access Status

    Kalshi

    Blocked — court order in effect

    Sports, election & entertainment contracts

    Polymarket

    Verify current access at Polymarket.com — access status subject to change

    PredictIt

    Verify current status at PredictIt.org — not subject to the current injunction

    Access status reflects court orders and platform geofencing as of July 2026. Always confirm current availability at the platform before depositing funds. A court ruling can change access with little notice.

    Why Nevada Is a Gaming State Case

    Nevada is not just another state enforcement action. It is the sharpest example of state-level enforcement precisely because Nevada is a gaming state with uniquely powerful regulatory infrastructure.

    The NGCB's argument

    The Nevada Gaming Control Board holds concurrent authority over any wagering product operating in Nevada — including products licensed at the federal level.

    Under Nevada Revised Statutes Chapter 463, any entity taking money on event outcomes must hold a Nevada gaming license. Kalshi does not.

    Kalshi's counterargument

    Kalshi holds a Designated Contract Market (DCM) license from the CFTC. It argues that federal Commodity Exchange Act authority over DCMs preempts state gambling laws — the same argument it has made in New Jersey, Ohio, and elsewhere.

    The Third Circuit agreed with Kalshi in New Jersey. Nevada courts have not.

    Nevada's gaming industry also has a direct financial stake. Sportsbooks, casinos, and pari-mutuel operations pay state licensing fees, excise taxes, and compliance costs that prediction markets currently avoid. Regulators have explicitly acknowledged the competitive pressure.

    Timeline

    Mar 2025
    NGCB issues cease-and-desist

    Nevada Gaming Control Board orders Kalshi to stop offering sports-event contracts in Nevada by March 14, 2025. Kalshi does not comply.

    Mar 20, 2026
    TRO issued

    First Judicial District Court grants NGCB's request for a temporary restraining order against Kalshi. Judge Jason Woodbury presides.

    Apr 3, 2026
    Preliminary injunction — oral ruling

    Judge Woodbury grants preliminary injunction, barring Kalshi from offering sports, election, and entertainment contracts in Nevada unless it obtains a gaming license.

    May 18, 2026
    Court confirms geofencing deadline

    Court confirms Kalshi must implement geofencing technology to block Nevada users. 30-day compliance period established.

    Jun 12, 2026
    NGCB files contempt motion

    NGCB files contempt motion after investigators successfully purchase prohibited contracts on Kalshi's platform from Nevada on 8 occasions across 4 days (May 28–Jun 1).

    Jul 1, 2026
    Nevada Supreme Court denies stay

    Nevada Supreme Court rejects Kalshi's emergency motion to pause the injunction pending appeal, keeping the geofencing requirement in force.

    Jul 8, 2026
    US Senators join anti-CFTC coalition

    Senators Rosen and Cortez Masto (D-NV) join bipartisan Senate coalition seeking to limit CFTC authority over prediction market regulation.

    Jul 16, 2026
    Contempt hearing — evidentiary
    ⏳ Upcoming

    Full-day evidentiary hearing before Judge Woodbury. Court will determine if Kalshi violated the injunction and whether contempt sanctions should be imposed.

    TBD
    Nevada Supreme Court appeal

    Kalshi's appeal of the preliminary injunction continues before the Nevada Supreme Court. Ruling could vacate or uphold the district court order.

    The July 16 Contempt Hearing

    What is a contempt proceeding?

    A court holds a party in contempt when it finds that party has violated a court order. The court may impose monetary fines, mandate compliance steps, or both. This is a civil — not criminal — proceeding.

    What the NGCB alleges

    NGCB investigators successfully purchased sports-event contracts on Kalshi's platform while physically located in Nevada on eight separate occasions across four days (May 28, 30, 31, and June 1, 2026) — after the May 18 geofencing deadline. Kalshi contends it has been implementing compliance measures.

    What July 16 could mean

    Contempt found

    Significant monetary penalties

    If the court finds Kalshi in contempt, it could impose daily fines for each day of non-compliance and require Kalshi to pay NGCB's attorney fees. This would be the furthest any state has gone against a prediction market platform.

    No contempt

    Geofencing compliance accepted

    If Kalshi demonstrates adequate geofencing steps, the court may decline contempt but could set stricter compliance requirements or monitoring. The underlying injunction remains in effect regardless.

    The hearing may extend to July 31. The underlying injunction remains in effect regardless of the contempt ruling. The Nevada Supreme Court appeal of the preliminary injunction continues separately.

    Nevada's US Senators Join Anti-CFTC Coalition

    On July 8, 2026, Senators Catherine Cortez Masto and Jacky Rosen (D-NV) joined a bipartisan Senate coalition pushing to limit the CFTC's authority over prediction markets in states that have their own gaming regulatory frameworks.

    The senators are backing an appropriations amendment that would prevent the CFTC from spending federal funds to block states from enforcing their own gambling laws against prediction market operators. This tracks with Nevada's position in the Kalshi litigation: the state argues it should not need federal approval to enforce its own gaming statutes.

    Why Nevada's gaming industry opposes prediction markets

    Nevada sportsbooks reported a $249M year-over-year decline in sports wagering volume in 2026, which gaming executives have attributed in part to competition from prediction markets operating without Nevada gaming licenses. The NGCB represents an industry with a direct financial stake in the outcome of these legal disputes.

    This legislative push runs parallel to the litigation — a congressional amendment would operate separately from the Nevada state court case but could ultimately affect the CFTC's ability to intervene on Kalshi's behalf in any state proceeding. See the congressional oversight tracker

    What This Means for Users

    Nevada residents

    Kalshi is not accessible for sports, election, or entertainment contracts. This is the result of an active court injunction — violating it by using a VPN or other method to bypass geofencing puts you in violation of the court's order as well.

    Existing positions

    The court order targets new contract access, not retroactive cancellation of existing positions. Verify your account status and any settlement access directly with Kalshi.

    Outside Nevada

    The Nevada court order only restricts access for users physically located in Nevada. Users outside Nevada are unaffected by this specific order — though other state actions may apply. Check the State Actions Tracker for your state.

    What to Watch Next

    July 16, 2026

    Contempt hearing result — Carson City District Court, Judge Woodbury

    July 27, 2026

    CFTC NPRM public comment deadline — federal rulemaking on event contract categories

    July 30, 2026

    Sixth Circuit oral arguments (Ohio + Tennessee cases consolidated) — federal preemption ruling expected

    Ongoing

    Nevada Supreme Court appeal of preliminary injunction — could vacate or uphold

    Ongoing

    Senate appropriations amendment to limit CFTC state intervention authority

    Related Pages

    What Nevada's Injunction Means for Kalshi Users

    User-focused breakdown of what the injunction covers and what it doesn't.

    SCOTUS Prediction Markets Preemption Watch

    The federal vs. state preemption fight and where it may end up at the Supreme Court.

    State Prediction Market Legal Actions Tracker

    All active state enforcement actions, injunctions, and lawsuits in one place.

    Federal vs. State Calendar — Next 90 Days

    Upcoming court dates, comment deadlines, and regulatory milestones.

    Congressional Oversight of Prediction Markets

    Senate letters, appropriations moves, and what Congress can actually do.

    How Federal Prediction Market Regulation Works

    Why Kalshi is CFTC-licensed and why states challenge that authority.

    Frequently Asked Questions

    Sources: Nevada Gaming Control Board filings, Nevada Review-Journal, Las Vegas Review-Journal, Legal Sports Report, SportsBettingDime, and official court records. Access status current as of July 2026; verify at platform before trading.