Kalshi counter-attacked Nevada's regulatory agencies, accusing them of violating federal law in their investigations

On 16 August, Reuters reported that Kalshi, the predictive market platform, had accused Nevada of violating federal law while investigating its geographical fence measures. Previously, the regulator sought a daily fine of $120,000 for Kalshi ' s alleged failure to implement a complete programme of geographical fencing as ordered by the court. Court documents indicate that, on the day after the expiry of the relevant reorganization period, investigators of regulatory agencies in Nevada continued to successfully complete nine transactions on the Kalshi mobile application through the local cellular network. According to Kalshi, the company has engaged Geocomply to provide geographic fencing services, as requested by the state, with permission from the local lottery regulator, and has kept the regulator informed of progress in implementation. According to Kalshi counsel, during the testing process, Nevada State investigators falsely reported their residence address to the platform, allegedly in violation of federal law, and at least one investigator circumvented the blockade imposed by Kalshi himself. In April of this year, a judge of Nevada issued a preliminary injunction prohibiting Kalshi from making a contract deal in the state without a lottery license。