Utah sues Kalshi, but a new target raises bigger questions
Photo: SBC Americas
KEY TAKEAWAYS Utah sued Kalshi, its affiliates and two Susquehanna trading firms Tuesday, alleging illegal gambling. The state estimates Kalshi earned $30.6 million to $61.2 million in fees from Utah accounts. The suit follows Kalshi’s failed federal challenge, which a federal judge and the Tenth Circuit rejected. Utah Attorney General Derek Brown moved from defense to offense against Kalshi on Tuesday, while adding a new defendant not yet targeted elsewhere.
Source: SBC Americas
