Nevada Wins Prediction Market Battle, But War Far From Over
Nevada's congressional delegation praised a recent court ruling that allows the state to enforce its gaming laws against prediction market platforms, but analysts believe the legal battle is far from over.
The U.S. Court of Appeals for the Ninth Circuit ruled on August 31, 2026, that Nevada can ban companies like Kalshi and Crypto.com from operating in the state due to their sports-event contracts.
Representatives Dina Titus, Susie Lee, and Steven Horsford commended the decision, with Titus stating, 'Three Trump appointed judges reaffirmed the basic principle that state and tribes should be the ones to regulate gambling within their borders.'
The ruling also banned Robinhood from offering sports-event contracts in Nevada. Kalshi confirmed it would seek further review of the decision, which has significant implications for the prediction market industry.
Analysts believe the Ninth Circuit's reasoning could drive more state bans, with nine states within the court's oversight potentially following suit. The issue may eventually be taken up by the U.S. Supreme Court, which could take 10 to 22 months to resolve.