Kalshi already won one court victory and now enjoys political clout thanks to Trump Jr. joining the team, so it probably has a plan to prove that its continued activity in Nevada is lawful.

Trump Jr became an adviser to three publicly traded companies in the US in ... the day the company announced that he was joining its board. The news sent its share price up by 74 per cent. His ...

Mr Trump Jr, for his part, has plenty of balls in the air. In addition to his role at 1789, he is an adviser to Kalshi, another prediction market, and to Unusual Machines, a manufacturer of ...