Utah sues Kalshi and Susquehanna firms over alleged illegal betting
- —Utah seeks injunctions, restitution and disgorgement of profits
- —Suit targets Kalshi and Susquehanna-affiliated firms
- —State cites Kalshi's loss in federal court
Why it matters: The suit intensifies state-level pressure on prediction markets and could restrict Kalshi's access to market-maker liquidity.
Source: The Defiant