Utah files criminal charges against prediction market Kalshi and its co-founders

Summary

Utah is pursuing criminal charges against the prediction market operator Kalshi and two executives, after a federal judge rejected Kalshi's effort to prevent Utah from enforcing its anti-gambling laws against the activity, The Independent reported on Thursday 29 October, escalating a fight over who can regulate prediction markets. The charges against Kalshi and the company's co-founders include violating the state gambling ban and profiting from illegal activity, The Guardian reported, the firm calling them 'crazy overreach'.

Latest: Utah filed criminal charges against the prediction market Kalshi and its co-founders, including violating the state gambling ban and profiting from illegal activity, after a federal judge rejected Kalshi's effort to stop Utah enforcing its anti-gambling laws, The Independent and The Guardian reported, the firm calling the charges 'crazy overreach'.

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