Calshi calls for federal ban on geographic restriction fines

Kalshi, a company specializing in predictive markets, announced that it is in violation of the state of Nevada's ban on geolocation restrictions. The authorities accused the company of providing false information about its location and of exceeding the restrictions' measures. Despite a court ruling requiring a complete geolocation restriction system to be in place by a specified deadline, Nevada investigators managed to access the Kalshi app through the state's mobile networks. This situation risks incurring daily fines of $120,000. These actions are part of a broader legal dispute over the regulation of predictive markets in the United States, with Kalshi arguing that federal government oversight is appropriate, while several states contend that the matter falls within their local gambling laws.

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