Utah charges Kalshi and its CEO with illegally promoting online gambling

Utah has filed 14 charges against Kalshi, its CEO Tarek Mansour, and COO Luana Lopes Lara for allegedly breaking anti-gambling laws, marking an escalation in a nationwide battle against prediction market platforms. The charges come after Utah sued Kalshi in March, and join similar lawsuits from several other states, including New York, Nevada, New Mexico, Washington, and Connecticut. The Commodity Futures Trading Commission (CFTC) is fighting state-level attempts to regulate prediction markets, arguing it has 'exclusive jurisdiction'.