Utah filed criminal charges against Kalshi, CEO Tarek Mansour and COO Luana Lopes Lara for allegedly illegally promoting gambling in the state. Prosecutors said an undercover state agent placed 12 sports wagers on the platform in September, despite a federal ruling that Utah’s gambling laws apply to it. Kalshi and its executives face one count of pattern of unlawful activity, 12 counts of online gambling promotion and one count of gambling promotion. The company called the charges “a crazy overreach” and said it would contest them in court, while the CFTC sued Utah to stop it from blocking federally regulated exchanges. The dispute is part of a broader legal battle over federal versus state authority over prediction markets.
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