Prediction market operator Kalshi hits back at Nevada regulator over geofencing fine

Reuters

Sat, August 15, 2026 astatine 9:58 AM CDT 1 min read

Aug 15 (Reuters) - Prediction marketplace relation Kalshi accused Nevada's gaming regulator of violating national ‌law successful a connection connected Saturday aft ‌it sought regular penalties of $120,000 a time implicit the firm's ​alleged nonaccomplishment to comply with a geofencing order.

• Board investigators successfully placed 9 trades connected Kalshi's mobile exertion portion connected to cellular networks successful Nevada, ‌a time aft ⁠a court-ordered deadline for the institution to person a implicit geofencing solution successful ⁠place, according to a tribunal filing seen by Reuters.

• Kalshi successful a connection said it hired ​GeoComply, a ​vendor licensed by Nevada's ​gaming regulator astatine the ‌state's request, and that it kept the authorities updated throughout.

• Nevada investigators misrepresented their residences to Kalshi, violating national law, and astatine slightest 1 circumvented the company's ain blocking measures, Kalshi's lawyers ‌said.

• A justice successful the ​western U.S. authorities of ​Nevada successful April ​issued a preliminary injunction barring Kalshi ‌from offering specified contracts successful ​the authorities ​without obtaining a gaming license.

• The Nevada courts did not instantly respond to a petition ​for remark connected ‌Saturday extracurricular mean concern hours.

(Reporting by Rajveer ​Singh Pardesi and Rishabh Jaiswal successful Bengaluru; ​editing by Barbara Lewis)