Key facts
- Kalshi accused Nevada's gaming regulator of violating federal law.
- Nevada sought daily penalties of $120,000 for alleged failure to comply with a geofencing order.
- Kalshi claims investigators misrepresented their residences and circumvented blocking measures.
- A court had previously barred Kalshi from offering contracts in Nevada without a gaming license.
Prediction market operator Kalshi has accused Nevada's gaming regulator of violating federal law, responding to a demand for daily penalties of $120,000 over alleged non-compliance with a geofencing order. The regulator's board investigators reportedly placed nine trades on Kalshi's mobile application while connected to cellular networks in Nevada, a day after a court-ordered deadline for the company to implement a complete geofencing solution.