Utah charges Kalshi and executives with promoting online gambling
Original title: Utah charges Kalshi and its CEO with illegally promoting online gambling
The 14 counts include 12 for illegal promotion and follow civil suits by several states as the CFTC claims exclusive jurisdiction.
Utah filed criminal charges against prediction-market operator Kalshi, CEO Tarek Mansour, and COO Luana Lopes Lara, accusing them of breaking anti-gambling laws. The state had already sued Kalshi, alongside New York, Nevada, New Mexico, Washington, Connecticut, and others. Arizona's earlier criminal case was blocked by a federal judge. Kalshi called Utah's charges an overreach and said it expects to stop them in court.
Unconfirmed: Kalshi disputes the charges as overreach; the outcome in court is unresolved.
- New York and Kentucky have also sued Polymarket.
- Two federal appeals courts ruled against Kalshi and Polymarket's bids to block state oversight.
- The 3rd Circuit said in April the CFTC exclusively regulates prediction markets in New Jersey.
- New Jersey has asked the Supreme Court to take up that case.
- Vendors
- Kalshi
- Organizations
- CFTCPolymarket
- Countries
- United States
From the original article
2 min read at theverge.com
is a news writer who covers the streaming wars, consumer tech, crypto, social media, and much more. Previously, she was a writer and editor at MUO. Utah has filed criminal charges against Kalshi and its executives, accusing the prediction market of breaking anti-gambling laws, as reported by The Salt Lake Tribune and the Associated Press .
By entryleveljobsc · theverge.com
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