#Kalshi’sDisputewithNevada *Kalshi’s Dispute with Nevada – April 2026 Update*

Nevada is currently the only state with a court-enforced ban on Kalshi, and it just got extended. Here’s what’s happening:

*1. Current status: Ban extended, permanent injunction coming*

- *April 4, 2026*: Nevada Judge Jason Woodbury extended the ban on Kalshi offering sports, elections, and entertainment event contracts

- *Temporary restraining order* from March 20 was extended to *April 17, 2026* to buy time for a *permanent injunction*

- *Judge’s ruling*: Kalshi’s sports contracts are “indistinguishable” from gambling. _“No matter how you slice it, that conduct is indistinguishable... it is a gaming activity that is prohibited for any non-licensee to engage in.”_

*2. What Nevada’s dispute is about*

- *Nevada Gaming Control Board (NGCB)* says Kalshi needs a state gaming license. Without one, offering event contracts = illegal gambling under state law.

- *Kalshi’s argument*: Its contracts are “swaps” regulated by the CFTC, so federal law preempts state gambling rules. The CFTC has backed this position in related cases.

- *Judge rejected it*: Said buying a baseball contract on Kalshi is the same as placing a $100 bet at a licensed sportsbook.

*3. Timeline of the Nevada fight*

1. *March 2025*: NGCB sent Kalshi a cease-and-desist for sports contracts

2. *March 19, 2026*: 9th Circuit Court of Appeals denied Kalshi’s stay, sending case back to state court

3. *March 20, 2026*: Nevada court issued 14-day TRO blocking sports, entertainment, election bets

4. *April 3, 2026*: Hearing held; judge extended ban

5. *April 4, 2026*: Judge granted preliminary injunction request. Permanent injunction expected after April 17

6. *April 16, 2026*: 9th Circuit expected to hear a broader case involving Nevada

*4. Why Nevada matters*

- *First state to effectively ban Kalshi*: Sets a legal precedent other states may follow

- *Key takeaway*: Court prioritized state gaming statutes over federal CFTC classifications

- *Impact*: If Kalshi wants Nevada, it likely needs a gaming