Utah Files Criminal Charges Against Kalshi as CFTC Sues to Defend Prediction Markets

Utah Attorney General Derek Brown charged Kalshi and co-founders Tarek Mansour and Luana Lopes Lara with promoting online gambling, including 12 felony counts. The CFTC sued Utah the same day, asserting exclusive federal jurisdiction over CFTC-registered prediction markets.

• Utah filed 12 counts of online gambling promotion, a third-degree felony
• CFTC sued Utah to defend its exclusive jurisdiction over prediction markets
• Kalshi calls the charges political overreach and vows to fight in court
• Utah is the second state after Arizona to bring criminal charges against Kalshi