Nevada Court Bars Kalshi From Offering Contracts for 14 Days in Sports Betting Fight

A Nevada court issued a 14-day temporary order barring Kalshi from offering contracts for events in the state as the company pursued its legal fight over its regulation and oversight in Nevada and other states.

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CoinDesk said the order was issued by the First Judicial District Court of the Nevada on Friday, after a federal appeals court on Thursday cleared the way for state regulators to obtain it, with the Nevada Gaming Control Board having initially requested the order in 2025 when it ordered Kalshi to stop its sports contracts.

CoinDesk

CoinDesk reported that Kalshi argued the case should be moved to federal court, but the appeals court sent it back to Nevada despite Kalshi saying it “fait face à un préjudice imminent” due to the state’s actions.

CoinDesk added that the Nevada court determined the gaming board “ne peut pas fonctionner correctement” under the circumstances because “un participant non agréé échappant au contrôle du Conseil, tel que Kalshi, fait obstacle à la capacité du Conseil à remplir ses fonctions statutaires,” and the court scheduled an April 3 hearing.

CoinDesk also said a Kalshi spokesperson refused to comment on the Nevada development, while the article described parallel legal pressure in multiple states and quoted CFTC president Mike Selig insisting the CFTC holds the proper authority rather than states.

A New York Times investigation described senior CFTC officials who raised concerns about Polymarket, Crypto.com and a Gemini affiliate as being suspended, investigated, and eventually pushed out of the agency.

Cointelegraph reported that career staff worried Crypto.com was not treating small bettors fairly, Polymarket lacked adequate fraud protections, and Gemini’s affiliate had not completed the required regulatory review to operate, while “then-acting CFTC chair Caroline Pham and her senior counsel intervened to help the firms get what they wanted,” according to sources told the NYT.

Cointelegraph

By the end of 2025, Cointelegraph said two officials who raised questions were placed on administrative leave and under internal investigation, while three others who had enforced crypto laws faced the same fate.

Cointelegraph also quoted the investigation’s framing that “the commission’s work force took away a clear message: Don’t cause trouble for those industries,” and it said the CFTC dropped at least five crypto investigations.

Cointelegraph further reported that Pham left the agency to join MoonPay, and that her senior counsel Brigitte Weyls became general counsel at Gemini Titan, the same company whose application she helped approve, while current chair Michael Selig was described as having previously represented crypto firms as a corporate lawyer.

The same New York Times investigation described alleged ties between the firms and the Trump family, including that Crypto.com is a business partner of Trump Media, Polymarket received investment from Donald Trump Jr-backed 1789 Capital, and Gemini’s founders are financial backers of American Bitcoin Corp.

“A New York Times investigation found that senior CFTC officials who raised concerns about Polymarket, Crypto”

Cointelegraph

Cointelegraph said a White House spokesman, Davis Ingle, told the outlet that “President Trump only acts in the best interests of the American public,” and added that “There are no conflicts of interest.”

CoinDesk, meanwhile, described a separate but related jurisdiction fight over prediction markets, saying Mike Selig insisted the CFTC—not states—has the appropriate authority and that he filed a brief making that argument.

CoinDesk reported that Major League Baseball “s'est alliée à la CFTC,” signing a memorandum of understanding on supervision of prediction markets and also establishing a partnership with Polymarket, while the article said courts could still need to decide who has jurisdiction.

CoinDesk also stated that the Nevada court order was set to be followed by an April 3 hearing, as the broader dispute over regulatory control and enforcement posture continued across states and the federal agency.