By SectorWire desk ·
The report said that NGCB reached an agreement requiring Kalshi to introduce multi-source geofencing in Nevada. Kalshi faces a $120,000 daily penalty if it fails to geofence the state.
Kalshi must implement geofencing to avoid the daily penalty.
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The dispute could affect whether prediction market operators face state gambling laws alongside federal oversight.
Nevada has no fallback plan if the Supreme Court sides with prediction market operators, leaving its stance uncertain.
The comments raise licensing and tribal-law questions for prediction-market operators and tribes considering agreements with them.
Nevada’s proposed regulatory amendment would remove references to the National Council on Problem Gambling.
Nevada licensing risks and regulatory warnings are keeping Caesars and MGM out of prediction markets.
The ruling backs Nevada’s action against Kalshi’s sports contracts after Kalshi failed to demonstrate likely federal pre-emption.