The Guardian

Utah brings felony case against Kalshi and two executives

Utah has filed felony charges against prediction market operator Kalshi and two executives, alleging violations of the state’s gambling ban and profits from illegal activity. Months earlier, a federal judge rejected Kalshi’s attempt to stop Utah from enforcing its anti-gambling laws against the activity. Kalshi argued that the charges went too far.

Source published: Brief prepared:
Utah brings felony case against Kalshi and two executives
Image source · The Guardian

What to know

  • 01

    The charges concern alleged breaches of Utah’s gambling ban and earnings from unlawful activity.

  • 02

    A federal judge previously rejected Kalshi’s effort to block Utah’s enforcement of its anti-gambling laws.

Why it matters

The case highlights a dispute over state authority to regulate prediction market activity.

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