nevada

Court rules against Kalshi in sports betting lawsuit in Nevada

- The U.S. Court of Appeals for the Ninth Circuit upheld the lower court’s ruling, saying Kalshi failed to prove that the federal government has preemption over Nevada’s authority.
- This decision challenges the claim of CFTC (U.S. Commodity Futures Trading Commission) exclusive jurisdiction in this area.
- The case involves Kalshi’s sports betting operations in Nevada, and the court is currently siding with the state of Nevada.
- The RSS source has not provided any further details on the next steps or the specific impact on the crypto market.

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Source: The Block

🚨 KALSHI AND POLYMARKET LOSE STATE 📈 GAMBLING APPEALS IN NEVADA AND WASHINGTON 🧠

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- Kalshi lost Nevada appeal
- Polymarket lost Washington appeal
- Emergency motions denied
- Lower court rulings applied 📈

- Market might react sideways
- Whale behavior could influence
- Short-term outlook may change
- Trading volume might increase 🔥

- What is the impact on crypto market?

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#Crypto #Blockchain #Gambling #Nevada #Washington

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