Kalshi Clashes With Nevada Regulator as Investigators Place Trades Despite Geofencing Order

3-line summary

• Nevada Gaming Control Board investigators placed nine trades on Kalshi's mobile app while connected to cellular networks in Nevada, a day after a court-ordered deadline for the company to have a complete geofencing solution in place, according to a court filing seen by Reuters.
• Kalshi said it hired GeoComply, a vendor licensed by Nevada's gaming regulator at the state's request, and that it kept the state updated throughout; the company's lawyers said Nevada investigators misrepresented their residences and that at least one circumvented its blocking measures.
• A Nevada judge issued a preliminary injunction in April barring Kalshi from offering prediction-market contracts in the state without a gaming license; the dispute follows Kalshi's earlier legal fights with New York and other regulators over its market classification.

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