Regulators Say State Removing Illegally Operating Kalshi Market

Kalshi Michigan Sports Contracts Spark Federal-State Regulatory Collision

Kalshi’s Michigan sports contracts have landed the prediction market platform in a jurisdictional trap: the Commodity Futures Trading Commission (CFTC) ordered it on 14 July to keep operating in the state, even after Kalshi had already unwound trades to comply with a Michigan court ruling that went the other way. The standoff matters beyond one state. A Cherokee Nation comment submitted to the CFTC puts approximately 90% of Kalshi’s revenue in s…

Kalshi to block access from Nevada by Aug. 12

Regulators say state removing illegally operating Kalshi market

The Nevada Gaming Control Board announced that it had reached an agreement to remove illegal Kalshi betting props, but the New York-based company remains firm it will battle the state in court.

Nevada Regulators Removing Illegally Operating Kalshi Market

Nevada Regulators Removing Illegally Operating Kalshi Market In a July 24 press release, the Nevada Gaming Control Board announced an agreement with Kalshi to stop Kalshi’s unlawful operation in Nevada – including penalties if the company fails to comply. Kalshi must implement a solution to prevent “offering or facilitating contracts on sports, election or entertainment-related events” in the state. If Kalshi fails to comply by August 12, they f…

Why Kalshi finally gave up its fight to stay in Nevada

Kalshi agreed Friday 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 (NGCB) announced last week an agreement with the leading prediction market platform wherein the company will stop offering sports and other event contracts within Nevada borders as of Aug. 12 at the latest, geoblocking t…

Kalshi agrees Nevada geofencing fix to avoid $120,000-a-day fines

The Nevada Gaming Control Board (NGCB) has reached an agreement with Kalshi to “definitively stop” the prediction market’s “unlawful operation” in the state. Kalshi has agreed to implement a “robust” third-party geofencing solution by 12 August to prevent users physically located in Nevada from accessing the platform, the NCGB announced on Friday, July 24. The New York-based firm currently uses an in-house geofencing tool. If the process remains…