Utah Sues Kalshi Over Alleged Gambling, Seeks to Halt State Markets
Photo: TokenPost
Utah sued prediction market operator Kalshi and its affiliates on Oct. 20, alleging illegal gambling and asking a court to stop several categories of event contracts for state residents. Utah Attorney General Derek Brown’s civil complaint says Kalshi has served more than 32,000 verified users in the state. Utah argues that the activity violates its gambling ban and constitutes a public nuisance. The state is seeking to recover up to $60 million tied to the challenged activity. The proposed restrictions cover contracts linked to sports, elections, politics and culture.
Source: TokenPost
