Utah Sues Kalshi and Susquehanna Amid Widening Prediction Market Scrutiny
Key Highlights: Utah estimates that Kalshi collected between $30.6 million and $61.2 million in fees from accounts in the state, while Attorney General Derek Brown seeks to halt the alleged illegal gambling and recover the money. Courts have reached conflicting conclusions over whether federal regulation of Kalshi’s event contracts preempts state gambling laws, with rulings ...