Utah Brings Criminal Charges Against Kalshi and Its Co-Founders

Utah has filed criminal charges against Kalshi and its co-founders, listing 13 felony counts and one misdemeanor tied to gambling law enforcement against the federally regulated prediction market. The CFTC is simultaneously seeking to block Utah's enforcement, setting up a clash between state gambling statutes and federal market oversight. Traders in prediction and event markets should watch how this jurisdictional fight resolves, since it could shape access and legal risk for regulated platforms.