Prediction market has until March 14 to exit Nevada Latest sign of state’s hostility to web-based wagering Prediction market operator Kalshi has been ordered by the Nevada Gaming Control Board (NGCB) to halt its activities in the state and exit by 5 p.m. on March 14. A Kalshi advertisement. The Nevada Gaming Control Board (NGCB) ordered the company to halt operations in the state. (Image: Kalshi) In a demand letter released on Tuesday, the NGCB confirmed it issued a cease and desist order to Kalshi telling the company that event-based contracts on elections and sports are “unlawful in Nevada unless and until approved as licensed gaming by the Nevada Gaming Commission.” Regarding event-based contracts on the outcome of elections, the letter informs Kalshi that “even licensed sports pools in Nevada are prohibited from accepting wagers on such activity.” “The letter therefore advises Kalshi that its actions are in direct violation of Nevada’s public policy.” While Kalshi, one of the leaders… Read More
Category: Financial, Las Vegas, Legal, Regulation, legal, regulation
Source: Casino.org
