The Nevada Attorney General’s Office supports the Nevada Resort Association’s intervention in a case involving sports outcome predictions, but KalshiEx LLC opposes it.
The U.S. District Court judge presiding over lawsuits involving whether federal prediction markets are allowable under the state’s sports gambling laws will have to decide whether the Nevada Resort Association can intervene in the case.
Court documents show the Nevada attorney general’s office welcomes the NRA to intervene in the case, while New York-based KalshiEx LLC, a prediction market offering sports contracts nationwide, is opposed to the NRA’s intervention.
U.S. District Court Judge Andrew Gordon has given the NRA until Wednesday to respond to Kalshi’s petition to reject the NRA’s participation.
The NRA believes it has a vested interest in the case because in 2024 Nevada’s legal sports-betting industry took $7.8 billion in sports bets and the NRA represents 70 casino resorts statewide. The organization predicted “seismic” changes in Nevada sports betting if Kalshi and other prediction markets are allowed to offer futures contracts on sporting events.
“Kalshi has repeatedly advertised itself on social media as offering ‘sports betting,’ an earlier NRA court filing says. “Sample tags include: ‘The First Nationwide Legal Sports Betting Platform;’ ‘Betting on Kalshi, the first app for legal sports betting in all 50 states;’ and ‘Sports Betting Legal in all 50 States on Kalshi.’”
The Nevada Gaming Control Board contends that Kalshi must have a state gaming license to offer the contracts it posts on its website. Kalshi counters that it is regulated by the federal Commodity Futures Trading Commission, which it says has exclusive jurisdiction over futures trading and that federal oversight of the market supersedes state gaming regulation.
This is a developing story. Check back for updates.
