AI Summary
Sign in to listen

Nevada regulator files civil enforcement action against Kalshi to halt ‘unlicensed wagering’

The state’s Attorney General’s Office originally announced its intentions to file the civil enforcement action against Kalshi in Carson City District Court on February 11.

2 min read
Nevada regulator files civil enforcement action against Kalshi to halt ‘unlicensed wagering’
Key Points
The NGCB also requested a declaration and injunction to prohibit Kalshi from offering sports event contract trading to residents
The Attorney General’s Office believes Kalshi ‘harms the public’ by offering sports betting while failing to comply with state regulations

The Nevada Gaming Control Board (NGCB) has filed a civil enforcement action against Kalshi in Carson City District Court, having also requested a declaration and injunction to prohibit the operator from offering “unlicensed wagering in violation of Nevada law.”

"Kalshi is a financial services company that operates a derivatives exchange and prediction market, which offers products referred to as event contracts for sale. These products are offered for sale on Kalshi’s website and mobile app, and are made available to people in Nevada,” the NGCB said within the filing. 

“The Board considers offering sports event contracts, or certain other event contracts, to constitute wagering activity under NRS 463.0193 and 463.01962 and, therefore, entities offering such event contracts must be licensed."

Nevada’s Attorney General’s Office originally announced its intentions to file a civil enforcement action against Kalshi on February 11, following the operator’s request for a stay motion in December 2025. 

“Since filing its stay motion, Kalshi has continued to dramatically expand its business, rather than attempting to maintain any kind of status quo. Kalshi has massively increased its trading volumes, and has aggressively, and wrongly, marketed its sports bets as ‘100% legal’ in ‘all 50 States,’” the letter said. 

“As the district court found, every day that Kalshi operates in violation of Nevada law causes ‘substantial irreparable harms to State Defendants, the State of Nevada, the gaming industry in this state and the public interest.’ Kalshi’s continued operation harms the public because Kalshi offers sports betting but does not comply with ‘the same rigorous regulations and oversight as the licensed entities in this state.’”

Despite agreeing to temporarily forego civil enforcement action against Kalshi while its stay motion was still pending, the Attorney General’s Office believes the operator’s “own actions now compel state defendants to take action to stop Kalshi’s unlawful behavior.”

NGCB Chairman Mike Dretizer also spoke on the February 17 filing, having said, “The Board continues to vigorously fulfill its obligation to safeguard Nevada residents and gaming patrons, and uphold the integrity of a thriving gaming industry.”

The NGCB and Attorney General’s Office had previously filed civil enforcement actions against Polymarket and Coinbase in early 2026, resulting in 14-day temporary restraining orders for both operators.

Good to know

The NGCB reported the state’s total gaming revenue for December 2025 on January 28, as slot machine and table game activity generated $1.4bn during the monthly period, equating to a decrease of 1.6%

Reaction Board

Set Global Gaming Insider to be your preferred search result

In The News

View all
Senate subcommittee to discuss sports betting integrity concerns during May 20 hearing
[SIGNIFICANT IMPORTANCE]

Senate subcommittee to discuss sports betting integrity concerns during May 20 hearing

As part of the hearing, the Senate Commerce Subcommittee on Consumer Protection, Technology and Data Privacy will speak on gameplay manipulation and potential insider trading.

· Legal & Regulatory + 3