Nevada opposes Kalshi's application to delay proceedings in the Ninth Circuit Court of Appeals

Nevada opposes Kalshi's application to delay the proceedings of the US Ninth Circuit Court of Appeals on the grounds of waiting for the CFTC to formulate rules, and accuses the application of a delaying strategy. Nevada stated that the court's determination that the contract in question does not constitute a swap is based on the text, background, and legislative purpose of the Commodity Exchange Act, and the CFTC's rule making will not change this conclusion. (Source: Daniel Wallach)