Federal judge lets Utah enforce its anti-gambling laws on the prediction market Kalshi - Breitbart
A federal judge ruled that Utah can enforce anti-gambling laws against prediction markets like Kalshi and Polymarket.Summary
A federal judge has ruled that Utah is permitted to enforce its strict anti-gambling laws against prediction markets, specifically Kalshi and Polymarket. The ruling comes as Utah seeks to prevent these platforms from operating within the state, particularly regarding proposition betting. Kalshi had argued that these markets fall under federal jurisdiction, a position supported by the Commodity Futures Trading Commission, but the court rejected this claim.
The legal landscape remains fragmented, with different states seeing different outcomes; while some courts have sided with Kalshi, others in states like Maryland and Nevada have ruled against it. The conflict highlights a broader tension between state-level moral and regulatory concerns—often influenced by local religious values—and federal oversight of financial markets. While Utah leaders view the restriction as a moral necessity to prevent addiction, the platforms intend to appeal the decision.
(Source：Breitbart News Network)