NGCB gives Kalshi until August 12 to exit Nevada or face $120,000 daily fines

The Nevada Gaming Control Board (NGCB) has reached an agreement with prediction market operator Kalshi to permanently shut down its operations within the state. Under the terms of the deal, Kalshi must definitively cease all activity by August 12. Failure to meet that deadline will trigger daily financial penalties of $120,000, payable to the NGCB, until the closure is fully implemented.

The agreement follows months of escalating legal friction between the regulator and Kalshi. The Nevada Supreme Court recently denied Kalshi’s attempt to avoid geolocation requirements, and the NGCB had previously moved to hold the company in contempt for allegedly failing to install location-blocking technology. After an evidentiary hearing on July 16, the court found Kalshi in violation of an earlier order to halt its Nevada business, effectively forcing the company to comply.

According to the NGCB, Kalshi has agreed to roll out what it describes as a “robust, multi-source geofencing solution provided by a third-party commercial provider” to ensure it no longer accepts bets from Nevada users. The operator has reportedly accepted the terms and will begin implementing the geofencing measures immediately.

NGCB Chairman Mike Dreitzer underscored the regulator’s determination to enforce state gaming law. “This agreement will ensure that Kalshi fully complies with Nevada law moving forward, or it will face stiff penalties,” he said. Dreitzer added that the board has recently taken “decisive action” against other unlicensed prediction markets operating in Nevada and has successfully restricted all such platforms known to be active in the state.

The action marks the latest chapter in Nevada’s aggressive push to regulate or expel prediction-market operators that offer event-based contracts without a state gaming license.