2:25-cv-575-APG-BNW MOTION HEARING - ROUGH DRAFT - DO NOT CITE!!!
52 licensing programs as well. So there's a way for these two regimes to exist in tandem that Kalshi has basically ignored, and they've set up the straw man argument that we're going to be very harmed. But they can avoid the harm simply by applying for licensure. No guarantee they'll meet the requirements, but -- THE COURT: Well, that's the rub is if they apply for licensing and say, we want to allow contracts on election outcomes, the Nevada Gaming Control Board and Gaming Commission are going to say, no way Jose, and so we're not going to grant you that license. The CFTC says, sure, go ahead, Nevada now says no, and we're back to square one with the conflict, aren't we? MS. WHELAN: Well, respectfully, the CFTC said no and they're appealing the decision that said otherwise, but -- so Nevada and the CFTC seem to be on the same page on that one. And, sure, we may end up here, but insofar as the sports betting side, certainly that's something that could be ameliorated. THE COURT: Well, because you're going to say no to 18 and 19-year-olds betting and CFTC says, go for it. So again we've got a conflict between Nevada and the Feds, so don't we still have that same problem, there's still a conflict here? MS. WHELAN: There would still be a conflict with respect to the 18 through 20-year-olds, certainly.
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UNITED STATES DISTRICT COURT Judy K. Moore, RMR, CRR
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