Utah files 14 criminal charges against Kalshi and CEO over illegal online gambling
Luis Cabral ·
Utah prosecutors filed 14 criminal charges today against prediction market Kalshi and CEO Tarek Mansour for allegedly promoting illegal online gambling, The Verge reports. The case heightens pressure on US prediction markets at a moment of growing state and federal scrutiny of real-money event contracts. Utah bans nearly all forms of gambling, setting up a direct clash with Kalshi’s exchange model and marketing.
According to The Verge, the filing also names COO Luana Lopes Lara and includes 12 counts of illegally promoting online gambling, alongside two additional counts. The Verge notes the case was first reported by the Salt Lake Tribune and the Associated Press, and cites Utah’s strict anti-gambling statutes. Watch for Kalshi’s response and any court dates or removal to federal court, plus potential CFTC implications for event contract listings. [Developing. This article will be updated.]