Svmuu News: A federal judge has remanded the Nevada case against Kalshi and Blockratize, the parent company of Polymarket, to state court, ruling that the claims are primarily based on state law and that the Commodity Exchange Act does not preclude state law claims entirely. This move means Nevada regulators can continue to seek a preliminary injunction in state court, raising the risk that Kalshi and Polymarket will face restrictions on offering event contract trading locally. Reports indicate that Kalshi is evaluating options for an emergency appeal, while Polymarket has filed for a stay of execution. Previously, Nevada authorities alleged that the relevant spot contracts require licensing under state law and filed a lawsuit. (Decrypt)