Kalshi, a regulated exchange and prediction market company, has received an extension from the Nevada Gaming Control Board (NGCB) regarding their cease-and-desist order. The company was initially ordered to stop operations in Nevada by March 14, 2025.

The NGCB agreed to the extension after Kalshi's legal representatives requested additional time to address the order. The exact length of the extension has not been disclosed.

The cease-and-desist order, issued on March 4, primarily concerns Kalshi's sports event and election prediction contracts. According to the NGCB, these offerings violate Nevada state laws and gaming regulations, as:

• Sports event contracts require proper gaming licensing
• Election wagering is prohibited for all licensed sports pools in Nevada
• Gaming activities must undergo extensive investigation and regulation

Kalshi, which operates under Commodity Futures Trading Commission (CFTC) regulation, launched its sports event trading contracts in January 2025. Their business model allows customers to purchase contracts ranging from $0.01 to $0.99, with successful predictions paying out $1 per contract.

NGCB Chairman Kirk Hendrick emphasized that attempts to bypass Nevada's gaming regulations would face both criminal and civil penalties. The board maintains that all gaming operators must complete licensing requirements, follow strict regulations, and pay applicable taxes and fees to operate legally within the state.

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