Utah Files Criminal Charges Against Kalshi and Its Co-Founders
- —Charging information lists 13 felony counts and one misdemeanor
- —CFTC seeks to block Utah's enforcement of gambling laws against Kalshi
- —Kalshi operates as a federally regulated prediction market
Why it matters: The case will test whether states can prosecute federally regulated prediction markets, shaping the entire sector.
Source: The Defiant