Group 1 - Nevada gaming regulators filed a lawsuit against Kalshi to block its offering of event contracts for betting on sports, including football and basketball [1][6] - The lawsuit is part of a broader effort by state gaming regulators to control prediction market operators like Kalshi, which allow financial betting [1][7] - Kalshi has been seeking to prevent such legal actions, but a federal appeals court declined to halt a previous order that allowed Nevada to pursue enforcement [4][5] Group 2 - If Nevada succeeds, it would be the second state to block Kalshi from offering sports event contracts, following a similar injunction from Massachusetts [5] - Nevada's lawsuit argues that Kalshi's offerings constitute wagering under state law, requiring the company to be licensed and comply with regulations [6] - The state has previously secured court orders against other prediction market operators, including Coinbase and Polymarket, to prevent them from offering event contracts [7] Group 3 - Kalshi claims that its event contracts are a form of swaps and fall under the exclusive jurisdiction of the Commodity Futures Trading Commission (CFTC) [8]