LAS VEGAS (FOX5) — The Nevada Gaming Control Board says online betting platform Kalshi violated a court order by allowing Nevada residents to place bets after a judge ordered it to stop in May.
Board investigators said they were able to enter prohibited contracts from inside the state, prompting a move to hold the company in contempt.
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Agreement reached, deadline set
Rather than face contempt proceedings, Kalshi agreed to install geo-fencing technology by Aug. 12 to block Nevada users from accessing the platform. If the company fails to meet that deadline, it will face fines of $120,000 per day until it complies.
Kalshi operates an online market where users can bet on sports, elections and entertainment outcomes.
Governor responds
Gov. Joe Lombardo applauded the agreement between the board and Kalshi.
“Protecting the integrity of Nevada’s gaming industry is essential to preserving the public’s trust and maintaining our position as the world’s premier gaming destination,” Lombardo said.
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