Utah Charges Prediction Market Platform Kalshi With Illegal Gambling
Key Highlights: Utah has launched parallel civil and criminal legal actions against prediction platform Kalshi over state gambling violations. Kalshi and the Commodity Futures Trading Commission (CFTC) argue these event contracts are federally regulated financial derivatives, prompting the CFTC to sue Utah over jurisdiction. A growing coalition of states—including Arizona, Connecticut, Massachusetts, Michigan, and Nevada—are ...
