News
Utah Files Felony Charges Against Kalshi and Co-Founders
Utah has filed criminal charges against prediction market Kalshi and its two co-founders, accusing them of illegally promoting gambling in the state. The charges include one count of pattern of unlawful activity, 12 counts of online gambling promotion, and one count of gambling promotion. The case escalates a dispute that already involves the federal government, with Utah suing Kalshi in state court and the Commodity Futures Trading Commission suing Utah to block its enforcement actions against CFTC-registered exchanges.