Key facts
- Kalshi accuses Nevada's gaming regulator of violating federal law.
- Nevada's gaming regulator imposed a daily fine of $120,000 on Kalshi.
- Kalshi alleges investigators misrepresented their identities.
- Kalshi claims investigators circumvented blocking measures.
- JPMorgan Chase ended its banking relationship with Polymarket.
- The termination of Polymarket's banking relationship occurred in October.
- Regulatory concerns were cited as the reason for JPMorgan's action.
- Polymarket disputes the reason for the termination and claims a close relationship with JPMorgan.
Prediction market operator Kalshi has accused Nevada's gaming regulator of violating federal law in its pursuit of a $120,000 daily fine for alleged non-compliance with a geofencing order. Kalshi asserts that investigators misrepresented their identities and circumvented blocking measures implemented by the platform. This action by Kalshi represents a significant pushback against the regulatory actions.