Utah files criminal charges against prediction market platform Kalshi
Image: UnchainedUtah filed criminal charges against prediction market platform Kalshi and its two co-founders, CEO Tarek Mansour and COO Luana Lopes Lara. The state attorney general accuses them of promoting illegal online gambling. The 14-count filing follows 12 wagers placed in September by an undercover state agent using a Utah address. The action comes shortly after federal regulators sued Utah over state enforcement against federally regulated contracts.
Key points
- Utah filed criminal charges against KalshiEX LLC, CEO Tarek Mansour, and COO Luana Lopes Lara.
- The state accuses the platform of illegally promoting online gambling.
- The CFTC and the US Department of Justice jointly sued Utah regarding state enforcement.
Why it matters
The case highlights an ongoing jurisdictional conflict between state anti-gambling laws and federal commodities regulation for prediction markets.
Sources · 3 publishers
Crypto Briefing
Tier 2
Utah files criminal gambling charges against Kalshi and its co-founders
Unchained
Tier 1
Kalshi Slapped With Criminal Charges in Utah Over a State Agent’s Sports Wagers
Coverage timeline
- First reported by The Defiant
- Also reported by Crypto Briefing
- CryptoVideos brief published
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