Nevada officials have given KalshiEX LLC, a prediction market platform based in New York, extra days to reply to a cease-and-desist order from the Nevada Gaming Control Board (NGCB). The firm, which does business as Kalshi, had to follow the order by March 14, at first, but now the regulators have allowed more time for an official answer.
Nevada Gaming Control Board Accuses Kalshi of Running Unlicensed Sports Betting Operation
The NGCB, which keeps an eye on gaming rules in Nevada, said Kalshi offered event-based contracts that look a lot like sports bets without the right license. Kirk Hendrick, who heads the NGCB, pointed out that Nevada law keeps a tight grip on gaming operations. He stressed that any group taking bets on events needs to go through a tough licensing process. Hendrick also warned that breaking these rules could result in both criminal and civil punishments, as reported The Las Vegas Review-Journal…