Nevada
Kalshi sues Nevada and New Jersey gaming regulators
Prediction market Kalshi filed a lawsuit against the Nevada Gaming Control Board and the New Jersey Division of Gaming Enforcement after both state regulators sent cease and desist orders for the firm to pause all sports-related contracts in the states.
Kalshi’s legal team argued that the contracts fall under the jurisdiction of the Commodity Futures Trading Commission (CFTC) and, therefore, cannot be regulated by state-level authorities.
The team also contends that the cease and desist orders fail to recognize that Kalshi’s event contracts are two-sided markets that trade as swaps as opposed to the sports-betting book model where the house controls the market. Kalshi co-founder Tarek Mansour said:
“Prediction markets are a critical innovation of the 21st century, and like all innovations, they are initially misunderstood. We are proud to be the company that has pioneered this technology and stand ready to defend it once again in a court of law.”
Additionally, the Nevada Gaming Control Board sent Kalshi a cease and desist order for its election contracts, which a United States judge ruled were legal in September 2024 — allowing the contracts to trade freely in the US.
Kalshi lawsuit against Nevada Gaming Control Board. Source: Kalshi
Massachusetts subpoenas Robinhood over sports prediction markets
CFTC commits to ending regulation by enforcement
On Feb. 4, acting CFTC director Caroline Pham issued a notice signaling a major regulatory pivot at the CFTC and ending regulation through enforcement actions, choosing to focus on fraud instead.
“The CFTC is strengthening its enforcement program to focus on victims of fraud, as well as remaining vigilant for other violations of law,” Pham said
This major change at the CFTC was welcomed by industry firms as a breath of fresh air following a torrent of regulatory lawsuits and enforcement actions under the Biden administration.
The regulator also initiated a probe into Super Bowl event contracts offered by Kalshi and Crypto.Com on the same day the notice was sent out.
The goal of the CFTC’s probe was to ensure that the Super Bowl event contracts complied with existing derivatives laws in the US, and the CFTC ultimately took no action to ban the contracts.
Magazine: Train AI agents to make better predictions… for token rewards
Nevada
No. 1 Liberty outlasts No. 2 Bishop Gorman at the buzzer — PHOTOS
Liberty and Bishop Gorman’s boys basketball teams added another thrilling chapter to the powerhouse high school programs’ rivalry Friday night.
Every point mattered in a 32-minute battle, but the Patriots prevailed to remain in first place.
Senior Dante Steward scored 19 points for Liberty and the Patriots, ranked No. 1 in the Las Vegas Review-Journal’s Class 5A rankings, held on for a 58-56 home win over No. 2 Gorman after Kameron Cooper’s 3-pointer at the buzzer missed.
“We’re excited,” first-year Liberty coach Keith Ulrich said. “Anytime you could beat Bishop Gorman as a public high school, it’s a special moment. It doesn’t get done often in the city of Las Vegas. We had some great energy before the game in anticipation of it and some really good energy after the win and getting it done.”
The win keeps Liberty (19-5, 6-0 5A Southern League) in first place in the standings entering the final week of the regular season. The Patriots could clinch the league regular-season title and No. 1 seed in February’s 5A state tournament with a win over Henderson rival and third-place Coronado on Monday night at Liberty.
On Friday, Steward’s layup with 1:15 remaining gave Liberty a 57-52 advantage. Gorman’s Tyler Bright answered with a 3-point play to cut the deficit to two points with a minute to play.
Twice, Gorman (15-9, 5-1) had opportunities to tie the game in the closing seconds, but Tyler Johnson missed a layup with 15 seconds left and Bright went 1-of-2 at the free-throw line with nine seconds left.
Holding a 57-56 lead, Liberty’s Tyus Thomas made 1 of 2 free throws with 5.7 seconds left. After he made the second foul shot, Gorman’s Dino Roberts raced up the floor and threw it to an open Cooper, whose deep 3-pointer hit the back of the iron and Liberty escaped with the win.
“(Gorman went to a zone defense), which we knew was a possibility, so our zone offense took us a while to get really acclimated into what we need to do and how we need to attack it,” Ulrich said. “We’re at our best when we’re playing fast. The zone kind of slowed us down, so it took us a while to really settle in and be able to execute and make shots.”
Steward led a balanced Liberty scoring attack and added six rebounds and three assists. After Liberty led the entire first half, Gorman went ahead 40-38 with three minutes left in the third quarter. But Steward hit consecutive 3-pointers, which gave the Patriots a 44-42 lead entering the fourth.
“Dante’s been great,” Ulrich said. “He showed up at 6 in the morning for workouts and it was just laser focus. It was almost like he had been waiting for this game for four years. (It’s) his senior year and an opportunity to get a win against Gorman on the home floor. He was not only good offensively, but it was his best defensive game and his best rebounding game of the year.
“We needed every single one of (those points), obviously.”
Tayshawn Caesar added 18 points and five rebounds for Liberty, which led 29-27 at halftime, and Thomas scored 13 points.
“Tayshawn Caesar was really good today,” Ulrich said. “He had some big shots for us and some nice scoring drives against their defense.”
Bright finished with 22 points and 13 rebounds. Johnson scored 12 of his 16 points in the second half for the Gaels.
Liberty will have a short turnaround to prepare for a talented Coronado team that is another threat among the top three teams in the standings for the state title.
“We knew we had a senior-heavy, experienced team back in August when school started,” Ulrich said. “What makes this group special is not only that they’re talented, but they play as a team and they have each other’s back. They bought into the culture and supporting each other and you can’t win games against Bishop Gorman unless you do that.”
Contact Alex Wright at awright@reviewjournal.com. Follow @AlexWright1028 on X.
Nevada
UNLV Runnin’ Rebels Head To Reno As Underdogs Against The Nevada Wolf Pack
The UNLV Runnin’ Rebels will hit the road to face off with the Nevada Wolf Pack tonight. It is going to be a huge matchup between two Mountain West Conference in-state rivals. UNLV is an underdog in this game, and the predictions for this game have been reflecting this. This prediction comes from Kim Smith of Picks and Parlays. This is not a favorable prediction for the Rebels, who they do not expect to have much of a chance in this game. This is what they had to say about the Rebels and the game.
Picks And Parlays On The UNLV Runnin’ Rebels
“From a statistical perspective, UNLV averages 78.0 points per game while allowing 77.3. The Rebels shoot 46% from the field, collect 35.8 rebounds per game, and average 14.2 assists. Offensively, they are most effective when they can get out in transition and avoid extended half-court possessions.
One area where UNLV stands out is defensive activity. The Rebels average 8.5 steals and 4.4 blocks per game, showing their ability to disrupt passing lanes and protect the rim. When UNLV forces turnovers, they are far more likely to control tempo and stay competitive against higher-ranked opponents.”
Picks And Parlays Prediction For UNLV Runnin’ Rebels @ Nevada Wolf Pack
“Pick: Nevada -7.5
Nevada’s defensive consistency and strong home-court advantage give them the edge in this rivalry matchup. UNLV has struggled to maintain efficiency against disciplined defenses, and the Wolf Pack’s ability to control tempo should limit the Rebels’ transition opportunities. Over 40 minutes, Nevada’s execution should allow them to pull away…
I’m backing the under here because Nevada prefers a slower pace and emphasizes half-court defense. With both teams capable defensively and the Wolf Pack likely dictating tempo, this game sets up as a more controlled, lower-scoring rivalry battle than the total suggests.
Final Score Prediction: Nevada 76, UNLV 68″
While we do expect Nevada to win this game, we believe this game will be closer than predicted. This rivalry game will finish within five points. The Rebels have proven that they can beat or lose to anybody in the Mountain West on any given night. After a brutal performance in their last loss to the New Mexico Lobos, we expect Josh Pastner to have his team focused and playing much better against their rivals.
More UNLV Rebels On SI News
Nevada
Henderson teen wins Southern Nevada Youth of the Year; six finalists compete
LAS VEGAS (KSNV) — The Boys & Girls Clubs of Southern Nevada hosted its annual Youth of the Year competition Thursday evening at the Donald W. Reynolds Boys & Girls Club in Henderson.
Six high school students from across Southern Nevada were selected as finalists to deliver speeches to a panel of judges, sharing their personal journeys and growth within the organization.
Luna N., a 17-year-old from the Donald W. Reynolds Boys & Girls Club, emerged as this year’s regional winner.
Luna, who has been involved with the Boys & Girls Clubs for four years, aspires to become a taxidermist and hopes to attend UNLV.
She will represent Southern Nevada at the statewide Youth of the Year competition in March.
The Youth of the Year program, held nationally, honors exemplary Club members aged 14-18 who demonstrate leadership and personal growth.
One outstanding member will be chosen as the national Youth of the Year, serving as an ambassador for Boys & Girls Clubs youth nationwide.
This event follows the recent Junior Youth of the Year competition for ages 10-13 in the Las Vegas Valley.
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