Utah files criminal charges against Kalshi over illegal gambling
Utah filed criminal charges against Kalshi and two co-founders, accusing the platform of promoting illegal gambling.Summary
Utah Attorney General Derek Brown filed criminal charges against online prediction market platform Kalshi and two co-founders, Tarek Mansour and Luana Lopes Lara, accusing them of promoting illegal gambling. The charges, including one count of pattern of unlawful activity, one count of general gambling promotion, and 12 counts of online gambling, came after an undercover agent placed bets on sports events in September. This follows a state lawsuit and a CFTC suit to block Utah's enforcement. Brown stated that "Gambling is illegal in Utah, whether you place the bet, run the game, or promote it" and that calling it a "prediction market" doesn't change what it is. Kalshi, launched in 2021, is a federally regulated exchange offering event contracts, and has faced multiple lawsuits and restrictions. Arizona previously filed criminal charges that were blocked by a federal judge. Utah claims Kalshi continued allowing bets despite an August federal ruling.
(Source：FOX 4 News)