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`U.S. COMMODITY FUTURES TRADING COMMISSION
`Three Lafayette Centre
`1155 21st Street, NW, Washington, DC 20581
`Telephone: (202) 418-5000
`Facsimile: (202) 418-5567
`www.cftc.gov
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`March 6, 2025
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`Office of the General Counsel
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`Via CM/ECF
`Mr. Clifton Cislak
`Clerk of the Court
`United States Court of Appeals
`For the District of Columbia Circuit
`333 Constitution Avenue, NW
`Washington, DC 20001
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`Re: Notice of Supplemental Authority in KalshiEx LLC v. CFTC (No. 24-5205)
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`Dear Mr. Cislak:
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`I represent the Commodity Futures Trading Commission (“CFTC”) in the above-
`referenced appeal. We write, pursuant to Federal Rule of Appellate Procedure 28(j), to inform
`this Court of a March 4, 2025 “Order to Cease and Desist Unlawful Activity in the State of
`Nevada” issued by the Nevada Gaming Control Board (“Gaming Board”) to Appellee KalshiEx
`LLC (“Kalshi”) regarding Kalshi’s “event-based contracts . . . on sporting events and on election
`outcomes.” A copy of the Order is attached.
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`The Order is relevant to two issues on appeal: whether election betting contracts involve
`“gaming” and whether election betting contracts involve “activity that is unlawful under any”
`state law. The Gaming Board notified Kalshi that by offering “wagering” on election outcomes
`without a Nevada gaming license, Kalshi is violating Nevada law. The Gaming Board further
`advised that even if Kalshi had the appropriate gaming license, offering wagers on election
`outcomes would still violate Nevada public policy. Accordingly, the CFTC submits the State of
`Nevada’s Order for the Court’s consideration.
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`Sincerely,
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`/s/ Raagnee Beri
`Raagnee Beri
`Senior Assistant General Counsel
`Office of the General Counsel
`Commodity Futures Trading Commission
`(202) 418-5986
`rberi@cftc.gov
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`USCA Case #24-5205 Document #2104342 Filed: 03/06/2025 Page 2 of 2
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`CERTIFICATE OF SERVICE
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`I hereby certify that on March 6, 2025 I served the foregoing Letter on counsel of record
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`using this Court’s CM/ECF system.
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`/s/ Raagnee Beri
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