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00:02Calci accused Nevada's gaming regulator of violating federal law after the state sought
00:08daily penalties of $120,000 over the prediction market operator's alleged failure to comply with
00:15a geofencing order, according to Reuters. Nevada investigators placed nine trades on Calci's
00:21mobile app while connected to cellular networks in the state after a court-ordered deadline for
00:26a complete geofencing system. Calci said it hired GeoComply at Nevada's request and kept
00:33regulators updated throughout the process. The company said investigators misrepresented
00:38their residences and that at least one circumvented Calci's blocking measures. A Nevada judge issued
00:44a preliminary injunction in April barring Calci from offering such contracts in the state without
00:49a gaming license. The Nevada courts did not immediately respond to Reuters' request for
00:54comments Saturday outside normal business hours. For all things money, visit Benzinga.com.
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