Kalshi and its co-founders face 13 felony charges and one misdemeanor each in Utah for allegedly offering sports bets that violate the state's total gambling ban. Meanwhile, the Trump administration has sued Utah to block enforcement of the ban against Kalshi, making it the 10th state sued by the federal agency regulating prediction markets. Kalshi vows to fight the charges, citing a similar case it won in Arizona earlier this year.
Background
Utah is one of only two U.S. states that prohibit all forms of gambling under its state constitution. Kalshi, a federally licensed prediction market platform, has faced ongoing legal battles with multiple states over whether its contracts qualify as legal prediction markets or illegal gambling.
- Source
- Ars Technica
- Published
- Oct 30, 2026 at 01:21 AM
- Score
- 7.0 / 10