A New York company that is facing a cessation of demand from the Nevada Gaming Control Board to offer “event-based contracts” that is similar to sports games is looking for more time to deal with the matter.
The Control Board published on Friday at X that outside the counseling representing Kalshiex LLC, which did business such as Kalshi and Kalshi.com, contacted the Control Board about a time extension from Friday, 17.00 -time deadline that the regulator applied for a letter to the company in a letter.
“The company’s lawyer requested, and NGCB did not object, a limited period of additional time for Kalshi to deal with NGCB’s order,” said an X post shortly after 14.00, Friday said. “Additional details will be provided when they are available.”
Kalshi, who says it is the first exchange regulated by the Federal Commodity Futures Trading Commission, is devoted to dealing with the result of future events, usually with yes-or-not proposals.
Its website deals with a number of subjects, from inflation and interest to unemployment and whether the federal government will be shut down.
Among the proposals published on the Kalshi website Thursday was “Will Trump eliminate the Ministry of Education this year?” and “the number of tornadoes this month will be higher or lower than 150.”
Nevada Attorney General’s Office was also warned to cease and reject orders prepared by the Chairman of the Board Kirk Hendrick.
The demand letter signed by Hendrick instructed the company to cease all illegal activities within Nevada at 5 pm, Friday. In addition, the letter declared that previous illegal measures remain the subject of criminals and civil penalties, and any future illegal activity would be considered intentional violations.
Hendrick quoted potential violations of Nevada revised statutes as well as regulations 22 and 26B in the letter and says that the contracts that Kalshi offers were similar to a sports driver and the company is not licensed in Nevada to run a sports pool.
Contact Richard N. Velotta at rvelotta@ theplayerlounge.com or 702-477-3893. Follow @rickvelotta at X.
