Internet of things (IoT) is a new paradigm in wireless communication that offers a host of new opportunities to exploit the finite resources available. Cognitive radio networks (CRNs) employ these spectrum opportunities by using their inherent adaptive nature to automatically detect available channels in the spectrum and change transmission parameters to allow more communications to run concurrently, thus improving overall efficiency. The application of game theoretic principles to solving problems in this domain allows for the creation of fairly realistic models that clearly outline the relationship between the stakeholders involved, under the assumption of rationality. This paper presents a model for an IoT-based CRN in the underlay mode of operation. A triangular lattice with a set of relays is considered to model the secondary user network. The interference and power constraints accounted for in calculating the Nash equilibrium bring the model closer to direct applicability in the real world by including variations depending on channel strength and desirability.