Tech
Amid legal turmoil, Kalshi is temporarily banned in Nevada
Kalshi isn’t having a very good week. On Tuesday, the attorney general of Arizona filed a 20-count criminal complaint against the online prediction market, accusing it of running an illegal gambling business. Now, another southwestern state has taken a big swing at the company: A judge in Nevada has temporarily banned the service from operating there as part of an ongoing court case brought by state regulators.
Nevada, on behalf of its Gaming Control Board, sued Kalshi in February in an effort to block the prediction site from operating. Officials maintain that Kalshi has failed to acquire the appropriate gaming licenses that would cover the kind of betting activity its users are engaged in and that, by allowing users under the age of 21 to use its services, it violates state law.
Earlier this month, the state requested a temporary restraining order against Kalshi as part of its ongoing case. In a state court on Friday, Judge Jason D. Woodbury granted the state’s request and scheduled a hearing on the restraining order for early next month, court documents show.
In his order, Woodbury wrote that Kalshi was not licensed under the Nevada Gaming Control Act and that, given Kalshi’s policy of taking a commission from contracts purchased through its system, it was clearly operating a “percentage game” (which the state defines as gambling).
Kalshi has argued that, due to its registration with the Commodity Futures Trading Commission, it is under that federal agency’s exclusive regulatory domain, which should exempt it from state laws, court documents show. However, Woodbury noted that the issue of whether federal law overrides state law is still unsettled for now, but the courts have not been leaning in that direction.
Kalshi declined to comment on the development when reached by TechCrunch. Wired first reported on the judge’s decision. Reuters reports that Nevada had previously convinced judges to ban Kalshi competitors like Coinbase and Polymarket.
The Nevada case in which the prediction market finds itself is but one in a growing number of state cases across the country that seek to argue that sites like Kalshi and Polymarket are illegal operations that skirt state gambling laws.
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Conversely, current federal officials have positioned themselves as protectors of the prediction industry. Case in point: Following Arizona’s decision to file criminal charges against Kalshi earlier this week, the CFTC’s chairman, Mike Selig, came out swinging against the decision, posting online: “The Arizona Attorney General today filed criminal charges against one of our registered exchanges related to prediction markets. This is a jurisdictional dispute and entirely inappropriate as a criminal prosecution. The @CFTC is watching this closely and evaluating its options.”
The increasingly hostile posture of state officials and the lenience of the CFTC have all but guaranteed a regulatory battle between states and the federal government over prediction markets and their future.
Tech
Glean’s top line crosses $300M as AI budget cutting becomes its major selling point
Glean, a company often described as the Google for enterprise, said it has reached $300 million in annual recurring revenue (ARR), a three-fold increase from the $100 million milestone it reached just 15 months ago.
While many AI startups are growing at a blistering pace, Glean’s progress is particularly remarkable. After years of essentially being the only player in the category, the seven-year-old startup is accelerating its growth as tech giants enter the enterprise AI search market with rival products.
“The first four or five years of our existence, we had no competition,” Glean CEO Arvind Jain told TechCrunch. “Given how important search is to make AI work in the enterprise, every single company in the world wants to be in this space.”
Tech heavyweights building Glean-like tools include Google, Microsoft, OpenAI, Anthropic, Salesforce, and Atlassian.
Jain maintains there’s value in being a first mover in the space, but that it’s also equally important to offer a better product.
What Glean does better than its competition, according to Jain, comes down to the deep understanding that its AI tools have of customers’ business needs. Glean’s AI achieves this knowledge — a concept captured by the new, popular term “context graph” — by connecting to and learning from enterprises’ internal software systems.
Jain claims that Glean’s context graph also helps enterprises cut AI computing costs.
“If you connect your AI to Glean, it gives you all the information that you need to do your work, and that results in AI consuming far fewer tokens compared to if you unleash AI onto your systems directly,” Jain said. That’s because with Glean, AI ends up performing fewer operations, he added.
At a time when many companies are blowing through their AI budgets, those token cost savings have become a major selling point for the company.
“One of the things you know our customers really like about Glean is the fact that we can reduce your AI bill significantly,” he said.
The company, which was last valued at $7.2 billion when it raised a $150 million Series F last June, offers various pricing structures to its customers, which include Databricks, Reddit, Pinterest, and Samsung.
According to Jain, Glean offers both a consumption-based model, where clients pay per use, and a hybrid model that combines a fixed monthly fee for active users with separate usage fees for model consumption.
Glean is definitely not the first company to do this, but it’s worth pointing out that the company’s $300 million milestone cannot be fully described as traditional ARR, because a consumption model by definition doesn’t have a strictly recurring component.
Pure consumption pricing models depend on fluctuating user activity rather than predictable subscription renewals, therefore a portion of Glean’s top line is more accurately described as an annualized revenue run rate.
Glean did not immediately respond to a request for comment; this post will be updated if the company replies.
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Tech
Final 24 hours to save up to $410 on your TechCrunch Disrupt 2026 ticket
This is it. The countdown is almost over. You now have until tonight at 11:59 p.m. PT to lock in Early Bird savings of up to $410 for TechCrunch Disrupt 2026 before prices increase.
If Disrupt has been on your must-attend list, this is your final chance to secure the lowest available rates before the next price jump hits. Once the deadline passes, so do the savings.
Register now and join 10,000+ founders, investors, operators, and innovators at Moscone West in San Francisco from October 13–15 for three days packed with networking, startup discovery, and conversations shaping the future of tech. Bring a plus-one at 50%, or bring a group to get an up to 30% discount.
What makes Disrupt worth attending year after year
TechCrunch Disrupt is where startup momentum accelerates. The event brings together the people actively building, funding, and scaling what’s next across AI, fintech, SaaS, climate, cybersecurity, consumer tech, and beyond.
Attendees come to Disrupt for:
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With 300+ exhibiting startups, Startup Battlefield 200, curated networking experiences, and multiple stages of programming, Disrupt is built to help attendees make meaningful connections and real business progress.
Built for the people shaping what’s next
Disrupt is designed for founders raising capital, investors sourcing opportunities, operators scaling companies, and innovators looking for an edge. Whether you’re launching your next startup, growing your network, or tracking the future of technology, Disrupt puts you in the room with the people driving the industry forward.
Hear directly from tech leaders shaping the industry
Every year, Disrupt brings together hundreds of influential voices across startups and venture capital. Past speakers have included leaders from the companies and firms shaping the future of AI, enterprise software, fintech, consumer tech, and more.
This year will deliver the same high-caliber experience, with 200+ sessions across six industry-focused stages, plus roundtables and breakouts covering scaling, AI, fintech, infrastructure, robotics, and emerging technologies. Explore the growing agenda to see the latest sessions and speaker announcements.
Speakers include:
Savings of up to $410 end tonight at 11:59 p.m. PT
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Tech
Today is the last day to apply to speak at TechCrunch Disrupt 2026
TechCrunch Disrupt 2026 returns October 13–15 to Moscone West in San Francisco — and applications to speak are open for just a few more hours.
We’re inviting founders, investors, operators, and technology experts to apply for a chance to take the stage at one of the most influential tech events of the year.
More than 10,000 startup and VC leaders will gather at Disrupt 2026 to explore what’s next in AI, scaling, fintech, infrastructure, robotics, and the future of innovation.
Applications close tonight at 11:59 p.m. PT. Apply now to share your expertise and help shape the conversations defining the tech industry.
Pick your session format
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Breakout Sessions: A 30-minute talk (up to 4 speakers, including a moderator) with a 20-minute audience Q&A. Capacity: 100 attendees.
Roundtables: A 30-minute speaker-led group discussion, designed for up to 40 participants. No slides or AV — just insight and conversation.
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