Utah files 14 criminal counts against Kalshi and its co-founders

Utah has filed criminal charges against Kalshi and two executives, alleging violations of state gambling laws. The case adds to disputes over whether states or federal regulators have authority over prediction markets.

• Utah filed 14 felony counts against Kalshi and co-founders Tarek Mansour and Luana Lopes Lara, alleging gambling-law violations and profiting from illegal activity.· 1 source
• The charges concern Kalshi’s prediction-market operations in Utah; the state says the company continued operating after a federal judge rejected its effort to block enforcement of Utah law.· 1 source
• Kalshi says it will challenge the charges in court and argues that Utah is acting politically.· 1 source
• The dispute reflects a broader conflict over state and federal authority to regulate prediction markets, with litigation reported in roughly 20 states.· 1 source
• Utah also recently sued Kalshi and related companies seeking to stop certain trading in the state and recover profits made there.· 1 source