Utah Attorney General Derek Brown announced legal action against prediction market platform Kalshi and its affiliates, accusing them of facilitating illegal betting in the state since 2024. Authorities petitioned the court to compel the companies to return between $30 million and $60 million in profits made from over 32,000 Utah users. In August, a judge ruled in favor of Utah, finding that federal CFTC laws do not preempt state gambling laws. This lawsuit is part of a national trend where several US states, including Michigan, Ohio, Kentucky and New York, have filed civil actions against prediction market platforms.
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