Kalshi is quickly running out of options when it comes to ways to stay online with sports contracts in the state of Nevada.
Judge Andrew Gordon denied the company’s requested stay of his previous order dissolving the preliminary injunction that was keeping the firm online in the state while its suit against the Nevada Gaming Control Board (NGCB).
Kalshi is appealing that decision with the Ninth Circuit Court and requested a stay of enforcement of the decision until the court rules on the matter.
Judge maintains Kalshi won’t suffer irreparable harm
In his written denial, Gordon referenced the rationale in his preliminary injunction as the reasoning behind his denial of the stay. In that ruling, the judge drew attention to the fact that Kalshi was not being cautious in light of the legal action in Nevada in other states and was greatly expanding its offerings, including some markets that the company had previously argued would be a bridge too far in terms of swaps.
He also downplayed the harms Kalshi expressed concern over, saying they are largely financial and geofencing would be a relatively straightforward solution to the problem.
Kalshi is already appealing Gordon’s reversal with the Ninth Circuit. That would be the next stop for the company if they were to appeal the stay as well. There is currently an assessment call scheduled in the case for Dec. 30.
Crypto.com has pulled sports contracts in several states
While Kalshi is fighting to stay online in Nevada and keep its sports-related event contracts, Crypto.com clarified with several news outlets, including SBC Americas, that it is no longer offering sports contracts in many states that have sent the company cease-and-desist letters. Crypto.com took down sports contracts in Nevada after Gordon denied its own request for a preliminary injunction against the NGCB in October.
Crypto.com is partnered with Fanatics on Fanatics Markets, which launched earlier this month and is now live in 24 states and also works with Underdog Sports in many states. Crypto.com’s presence in Arizona recently led the Arizona Department of Gaming to move to revoke Underdog’s fantasy sports license in the state. Crypto.com confirmed to SBC Americas that it stopped offering sports event contracts in that state at the start of December.
PrizePicks is the only gaming operator with a Kalshi partnership. To date, no regulator has taken action against the company or threatened its licensure.
