Kalshi Ends Operations in Nevada After Compliance Issues
Kalshi agreed to fully shut down its operations in Nevada after admitting that people in the state were still able to access its event contracts despite a court order to geoblock the state.
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Kalshi agreed to fully shut down its operations in Nevada after admitting that people in the state were still able to access its event contracts despite a court order to geoblock the state.
The Nevada Gaming Control Board has reached an agreement with Kalshi requiring the prediction market operator to comply with a court order by August 12 or face a $120,000 daily penalty.
The Nevada Gaming Control Board (NGCB) has asked a state court to hold prediction market operator KalshiEX LLC in contempt, alleging the company has failed to comply with a court order requiring it to stop offering certain event contracts to people located in Nevada.
Predictions markets platform Kalshi has been embroiled in various legal battles with the Nevada Gaming Control Board (NGCB) for many months, and the two sides recently came to clash once again as the latter asked a state court to hold the former in contempt.
The Nevada Gaming Control Board has asked a state court judge to hold Kalshi in contempt of court, alleging that the prediction market platform is still allowing event contract trading within the state.
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