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Utah attorney general sues Kalshi over alleged illegal gambling

NewsFeeds update

Utah Attorney General Derek Brown sued Kalshi, two affiliated Susquehanna trading firms and related parties, alleging they facilitated illegal gambling in the state since 2024. The state seeks the return of about $30m-$60m in profit from the disputed event contracts and says Kalshi served more than 32,000 Utah users.

RegulationOdailyAIBearish

Read the original on Odaily

The story so far: Kalshi state gambling oversight case

Utah sued Kalshi and affiliated Susquehanna firms, alleging illegal gambling, and filed criminal counts against Kalshi and its co-founders; Kalshi says prediction markets fall under federal rules. Arkansas has now accused Kalshi of hiding trading risks and allowing under-21 users, seeking unpaid taxes and civil…

Headlines only, oldest first. Open a headline for the full update and the outlet it came from.

  1. Nevada opposes Kalshi bid to delay Ninth Circuit proceedings

  2. Kalshi's Tarek Mansour says state rulings could push it overseas

  3. Kalshi CEO Tarek Mansour says prediction markets may leave US without federal oversight

  4. Utah attorney general sues Kalshi over alleged illegal gambling

  5. Kalshi and two co-founders face 14 criminal charges in Utah, 13 of them felonies

  6. US appeals court denies Coinbase and Kalshi bid to pause state enforcement

  7. Arkansas sues KalshiEX and Kalshi Inc over alleged illegal gambling

  8. Arkansas accuses Kalshi of hiding trading risks and allowing under-21 users

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Every Regulation update on NewsFeeds

Every update is a short rewrite, by AI in our own words, of a flash from the outlet named on it, credited and linked. Updates are joined into one story by AI; our editors can change a story’s name or take an update out. Not investment advice.