Nevada Accuses Kalshi of Geofencing Violations
Nevada officials accuse prediction market Kalshi of failing to comply with a court-ordered geofencing deadline. Kalshi defends its compliance efforts and criticizes the state action.
Nevada filed a court motion seeking $120,000 in daily fines from Kalshi for missing an August 12 geofencing compliance deadline. State gaming investigators successfully placed bets on iPhones after the court-mandated cutoff. The dispute highlights mounting state-level challenges against prediction markets operating under federal financial oversight.
Nevada Gaming Control Board investigators provided eight examples of post-deadline wagers, including contracts on NFL games and congressional races. Kalshi disputed the findings, accusing state officials of manufacturing a legal grievance to protect local casinos. Rick Heaslip, Kalshi general counsel, said the company went above and beyond to implement geofencing.
