Utah files criminal charges against prediction market Kalshi
Utah has filed criminal charges against Kalshi and two of its executives, alleging that the prediction market company violated state anti-gambling laws.
The state’s case includes 14 charges against Kalshi, CEO Tarek Mansour, and COO Luana Lopes Lara. Twelve counts accuse the group of illegally promoting online gambling.
The charges come after Utah sued Kalshi over claims that it was operating illegally in the state. Utah is joining other states, including New York, Nevada, New Mexico, Washington, and Connecticut, in a wider dispute over the legal status of prediction market platforms such as Kalshi and Polymarket.
The prosecution represents an escalation from civil litigation and regulatory action into criminal enforcement against a prediction market business.