- A federal judge on March 3 also remanded the civil enforcement action of Nevada against Kalshi back to the state court.
- The Nevada decision comes amid the increasing pressure on prediction markets from state regulators
The US federal court ruling has pushed the risk even higher that Nevada regulators could look for halting prediction-market trading in the state after a judge sent a contest comprising Polymarket’s parent company, Blockratize, back to state court
A federal judge declined arguments that US regulation under the Commodity Exchange Act (CEA) and the Commodity Futures Trading Commission (CFTC) completely prevents state gaming laws for prediction markets, as per a Monday order
The judge found that the savings clause of the CEA does not fully replace state authority and that the firms had not revealed a basis to obstruct the action of Nevada at this stage. The decision shows the Nevada Gaming Control Board can carry on going after its civil enforcement case in state court, where it could look for an injunction limiting Nevada residents from accessing event contracts provided by Polymarket or Kalshi
Decision Amid The Increasing Pressure
With regards to the ruling, the parent company of Polymarket submitted a motion to request a brief administrative stay of the remand order of the court. The motion is a legal request looking to freeze a court ruling or enforcement action witnessed as a short-term emergency measure
The Nevada decision comes amid the increasing pressure on prediction markets from state regulators, including Kalshi, which has been fighting Nevada’s gaming regulator since 2025
A federal judge on March 3 also remanded the civil enforcement action of Nevada against Kalshi back to the state court, exposing Kalshi to an imminent temporary restraining order excluding it from providing event contracts in the state, as per a court filing witnessed from sports betting and gaming-aimed lawyer Daniel Wallach
Today, Wallach posted on X mentioning that the ruling could encourage other states to sue Kalshi in state court and look for injunctions to hinder event contracts, a strategy that has already succeeded in every case brought
Highlighted Crypto News Today:
Aptos (APT) Charts Turn Bullish: Is a $1 Surge Loading?
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
VeChain Demonstrates Blockchain Benefits With 5.2M Wallets Earning Weekly Rewards
VeChain’s VeBetter DAO has verified 48 million actions on more than 50 apps, and 5.2M wallets can now earn B3TR every week.
VeChain’s B3TR guide details app rewards, Vote2Earn, and GM NFT incentives tied to verified onchain sustainability actions.
VeChain has presented fresh data from its Ve
CryptoNewsFlash4h ago
U.S. stock futures for crypto-related stocks slightly decline, BMNR drops 0.44%
U.S. stock futures for crypto concept stocks slightly declined, with BMNR down 0.44% and SBET down 1.01%. CRCL slightly increased by 0.25%, while COIN fell by 0.15%. msx.com is a decentralized RWA trading platform that has launched multiple tokens.
GateNews4h ago
Millions Quietly Gear Up for Pi Network's Big Leap
More users are still preparing to the Pi Network global vision as they approach more adoption. New updates regarding the migration progress and ecosystem expansion throughout the network boosted the level of community discussions.
Pi Network Global Vision gets a good Community Momentum
The Pi Net
Coinfomania4h ago
Solana on-chain Chinese meme coin "My Sword and Shield" 24-hour increase reaches 240%, market cap surpasses $6 million
In recent years, the Meme coin "My Sword and Shield" in the Solana ecosystem has increased in market capitalization from $1.8 million to $6.6 million, with a 24-hour increase of 240%. Currently, the market cap is $5.6 million, and the coin has been listed for only 6 days. On-chain traders bought in at low prices and are now making a profit of approximately $7,930. Meanwhile, the same-named Meme coin on the BSC chain has also risen by 57%. Investors should be aware of the high volatility and risks associated with Meme coins.
GateNews4h ago
The overall crypto market slightly declined, while the AI sector rose nearly 2% against the trend.
On March 6th, the cryptocurrency market experienced a slight decline overall, with Bitcoin falling below $72,000 and Ethereum dropping below $2,100. The AI sector performed notably well, with Siren rising 32.75% and Kite increasing 25.06%. Layer2, GameFi, CeFi, and DeFi also saw small gains.
GateNews5h ago
