Nevada federal judge Andrew Gordon has denied Kalshi’s motion for a stay of his existing order, which dissolved a preliminary injunction that had temporarily protected the prediction market operator from state enforcement.
Betting journalist and regular Kalshi commentator Daniel Wallach on X broke the news of Judge Gordon’s decision, which read, “Plaintiff KalshiEX, LLC’s motion to stay case (ECF No. 238) is DENIED.
Nevada Federal Judge denies Kalshi’s motion
This means Kalshi faces the same fate as Crypto.com in Sin City, and looming regulatory action will likely follow for the prediction provider.
BREAKING: Nevada federal judge Andrew Gordon denies Kalshi’s motion for a stay of his order dissolving the preliminary injunction pending the CA9’s resolution of Kalshi’s appeal, citing to earlier ruling which found balancing of equities did not tip sharply in Kalshi’s favor. pic.twitter.com/IdqwnlgzUk
— Daniel Wallach (@WALLACHLEGAL) December 17, 2025
Judge Gordon has reduced Kalshi’s options in Nevada, saying, “I deny the motion for stay for the reasons articulated in my order dissolving the preliminary injunction.”
This effectively strips Kalshi of any legal shield while its appeal against a ban in the state, pushed by Nevada regulators, is ongoing.
Initially, Judge Gordon upheld the decision in Kalshi’s favour earlier this year and then became the party to dissolve competitor Crypto.com’s defence.
This opened the door for Nevada regulators to pursue Kalshi on multiple occasions, as both providers offer similar services under the Commodity Futures Trading Commission (CFTC) banner.
A halt to punitive action would have given Kalshi the clearance to continue building momentum, but as we reported, Nevada was becoming a barren landscape for the predictions market.
Federal v state battle rages on
One of the key narratives in the expansion of prediction markets has been the existing lattice of state legislatures that approve forms of gambling against the umbrella of federal approval given by the CFTC.
Kalshi has repeatedly challenged lawmakers and existing frameworks by vocally disputing jurisdictional and Tribal precedents and reaffirming the CFTC’s protective barrier, which remains questioned.
Maryland, New York, and Ohio have all challenged Kalshi’s rapid expansion across the United States, but it appears the brand’s time on the West Coast could be coming to a close in Nevada.
In closing Judge Gordon ended any hopes of appealing his decision saying, “I further order the defendants’ motion for leave to file a surreply (ECF No. 257) is DENIED as moot.”
Featured image: Kalshi
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