Nevada Gaming Control Board
Nevada Gaming Control Board cease-and-desist letter to Kalshi
1 letters, one to each company
Dated
Cease-and-desist letterDeadline March 14, 2025
Cite this page
Bluebook
Nevada's Cease-and-Desist Letter to Kalshi (March 4, 2025): What It Demanded, Prediction Market Laws (last updated Nov. 7, 2026), https://predictionmarketlaws.com/documents/nv-gaming-control-board-kalshi-cease-and-desist-2025.
APA
Prediction Market Laws. (2026, November 7). Nevada's Cease-and-Desist Letter to Kalshi (March 4, 2025): What It Demanded. https://predictionmarketlaws.com/documents/nv-gaming-control-board-kalshi-cease-and-desist-2025
The Board ordered Kalshi to stop offering any event-based contracts in Nevada and to confirm in writing by 5 p.m. on March 14, 2025 that it had stopped. Sports and election contracts are unlawful in Nevada unless approved as licensed gaming, the Board said, and even licensed sports pools may not take wagers on elections.
What the letters say
- The demand. Cease and desist immediately from offering any event-based contracts in Nevada, and confirm in writing that all prohibited activity has stopped.
- The deadline. 5 p.m. on March 14, 2025.
- The law cited. NRS 463.0193 and 463.01962 (sports pool and wager definitions), 463.160 (licensing), 463.245, 463.360(3), 465.086, 465.092 and 293.830 (election wagering), plus Gaming Commission regulations.
- The warning. Operating without a license is a category B felony under NRS 463.360(3), and any violation after receipt of the letter would be treated as willful.
What happened next
Kalshi sued the Board's members on March 28, 2025 and won a preliminary injunction that the court dissolved in November 2025. The Ninth Circuit upheld the dissolution on Aug. 28, 2026.
Where it fits in the case
Kalshi v. Nevada (D. Nev.)U.S. District Court for the District of Nevada, 2:25-cv-00575
- Complaint and TRO/PI motion filed.
- Written order granting a preliminary injunction (2025 WL 1073495).
- Nevada Resort Association allowed to intervene.
- Chief Judge Gordon dissolves the preliminary injunction, citing intervening rulings and Kalshi's expanded offerings; Kalshi seeks a stay pending appeal the next day.
- Kalshi's appeal of the dissolution docketed (No. 25-7516).
Read and cite it
Cite the letters
Letter from Nev. Gaming Control Bd. to Tarek Mansour & Eliezer Mishory, KalshiEX LLC (Mar. 4, 2025).
Cite this summary
Prediction Market Laws, Nevada Gaming Control Board cease-and-desist letter to Kalshi (read Nov. 7, 2026), https://predictionmarketlaws.com/documents/nv-gaming-control-board-kalshi-cease-and-desist-2025.