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Gaming Edge’s TL;DR
- Kalshi has agreed to stop offering sports, election, and entertainment contracts to people located in Nevada.
- If Kalshi is not fully compliant by Aug. 12, it faces penalties of $120,000 per day.
Nevada regulators have reached an agreement with Kalshi requiring it to stop offering sports, election, and entertainment contracts to people located in the state. The prediction market operator faces daily fines of $120,000 if it is not compliant by Aug. 12.
The deal marks the latest step in Nevada’s push against event-based prediction contracts that regulators say fall inside the state’s gaming enforcement lane. For bettors and operators, it is another sign that geofencing and state-by-state compliance remain central issues when products touch sports or other event outcomes.
Nevada gaming regulators said the dispute dates back to May 18. A preliminary injunction from the First Judicial District Court barred Kalshi from offering covered event contracts tied to sports, elections, and entertainment within Nevada. According to the state, investigators were still able to access and purchase prohibited contracts while physically located in Nevada after that order was issued.
Kalshi acknowledged breach
Under the agreement, KalshiEX LLC will implement enhanced geofencing technology designed to prevent people in Nevada from accessing those contracts. The company agreed to the deadline for full implementation of a third-party geofencing system and will provide regulators with regular updates.
Court filings dated July 23 reportedly included Kalshi’s acknowledgment that investigators accessed restricted contracts from Nevada.
Nevada Gaming Control Board Chairman Mike Dreitzer said:
“The court required Kalshi to stop offering covered event contracts in Nevada, and Kalshi violated that order. This agreement will ensure that Kalshi fully complies with Nevada law moving forward, or it will face stiff penalties.”
Based on reporting by Melanie Porter for Gambling News.
