Kalshi, founders face 14 criminal charges following Utah gambling probe
Crypto News
Utah filed 14 criminal charges against Kalshi and its co-founders for allegedly promoting illegal online gambling after an undercover investigator placed 12 sports wagers.Summary
Utah prosecutors filed 14 criminal charges against KalshiEX LLC, CEO Tarek Mansour, and co-founder Luana Lopes Lara, accusing them of promoting illegal online gambling. The charges include 13 felonies and one misdemeanor, stemming from 12 sports wagers totaling $114.87 placed by an undercover investigator in September. The prosecution follows a civil lawsuit seeking up to $61.2 million in allegedly unlawful fees and a federal challenge by the CFTC, which argues that federal commodities law preempts state gambling laws for regulated prediction markets. Kalshi disputes the charges as a "crazy overreach" and maintains its contracts are federally regulated derivatives.
(Source：Crypto News)