# Ryan Nelson

**Role:** Judge, U.S. Court of Appeals for the Ninth Circuit

**Appointed:** Trump administration

**Relevance:** Presiding judge in Nevada v. Kalshi 9th Circuit case (April 2026)

## Timeline

- **2026-04-16** — Presided over 9th Circuit oral arguments in Nevada v. Kalshi. Appeared to accept Nevada's Rule 40.11 argument, stating 'The language says it can't go up (on the platform). I don't know how you can read it differently.' This represents an unusual alignment for a Trump-appointed Republican judge to favor state regulatory authority over federal preemption in a financial services context.

## Notes

Nelson's apparent acceptance of the Rule 40.11 paradox argument during oral arguments signals potential 9th Circuit ruling against Kalshi, which would create circuit split with 3rd Circuit's pro-preemption ruling.