2026 Membership Book FINAL

2:25-cv-575-APG-BNW MOTION HEARING - ROUGH DRAFT - DO NOT CITE!!!

88 congratulate both counsel for your oral arguments and suffering my questions. They're meant for purposes. You may not see the purposes, but they work up here. In any event, I want to give you opportunities to file some more detailed lengthy briefs, if you feel the need to, to address these legal issues before I make a final determination on the legal issues. It seems to me that an evidentiary hearing might be worthwhile on the irreparable harm issue, like some of the issues I raised. What's the real impact financially if we keep out -- we geofence Nevada contracts? What's that compared to the overall financial viability of the company? One may argue that's irrelevant, as plaintiff's counsel has done. There are arguments that, yes, it does matter. That may require some brief discovery on sort of how much money we have, Kalshi makes, what percentage are the Nevada entities compared -- or the Nevada participants compared to the overall value of the company, what other damages Kalshi would suffer, and potentially briefing on, are any of those damages recoverable in Nevada State Court? And does someone have to go to State Court to recover damages? How does that impact irreparable harm in a Federal Court? I don't know. It may or may not impact. It just kind of occurred to me as we're talking, if a party has to subject itself to State Court to recover damages that are unavailable in Federal Court, does

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UNITED STATES DISTRICT COURT Judy K. Moore, RMR, CRR

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