Nevada gives Kalshi until August 12 to exit market

Kalshi entered into a settlement with the Nevada Gaming Control Board. Kalshi will end offering its sports, election and entertainment market contracts to Nevada customers by August 12, 2026.

If a delay happens, Kalshi will be required to pay $120,000 on a daily basis until the restrictions are enforced.

Regulators have argued that they could still access Kalshi’s contracts while located in Nevada, which they claim violates the court’s order. They then moved to hold Kalshi in contempt of court.

In lieu of continuing the litigation, Kalshi struck a deal with the Board. Under the terms of the settlement, it agreed to admit that investigators accessed prohibited contracts after the injunction and committed itself to making its operations fully compliant.

Board Chairman Mike Dreitzer said:

The Court required Kalshi to stop offering covered event contracts in Nevada, and Kalshi violated that order. This agreement will ensure that Kalshi fully complies with Nevada law moving forward, or it will face stiff penalties. We will continue to vigorously enforce Nevada law to safeguard gaming in our state. The Board has taken decisive action in recent months to halt the operations of other prediction markets in the state and has successfully restricted the operation of all unlicensed prediction markets known to be operating in Nevada.

Kalshi must now implement a third-party geofencing system to filter out users from Nevada from using its markets and has already commenced this process.