Utah sues Kalshi, saying it’s ‘the manager of a back-alley gambling den’
The Utah attorney general has filed a lawsuit against the prediction market platform Kalshi, accusing the company of operating an illegal gambling business and describing it as the manager of a back-alley gambling den. The state claims that users in Utah have lost millions of dollars through the platform and is seeking up to $60 million in profits made off state residents. Officials also formally declared the online gambling activity a public nuisance while asking a judge to halt the company from offering wagers in Utah.
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- ✓ Utah has filed a lawsuit against the prediction market platform Kalshi.
- ✓ The state lawsuit describes Kalshi as the manager of a back-alley gambling den.
- ✓ Utah is seeking up to $60 million in profits made off of Utahns.
- ✓ The state declared online gambling a public nuisance in the lawsuit.
What changed
Utah filed a civil lawsuit against Kalshi and two Susquehanna firms to halt wagers and recover millions in alleged profits.
Live updates
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Utah Sues Prediction Market Kalshi Over Illegal Gambling
The Utah attorney general has filed a lawsuit against the prediction market platform Kalshi, accusing the company of operating an illegal gambling business and describing it as the manager of a back-alley gambling den. The state claims that users in Utah have lost millions of dollars through the platform and is seeking up to $60 million in profits made off state residents. Officials also formally declared the online gambling activity a public nuisance while asking a judge to halt the company from offering wagers in Utah.
Why it matters
The legal action targets a prominent prediction market platform over jurisdictional authority and state gambling laws. Kalshi maintains that federal law applies to its operations. The lawsuit also targets two Susquehanna firms alongside the platform.
What is confirmed
- Utah has filed a lawsuit against the prediction market platform Kalshi.
- The state lawsuit describes Kalshi as the manager of a back-alley gambling den.
- Utah is seeking up to $60 million in profits made off of Utahns.
- The state declared online gambling a public nuisance in the lawsuit.
- Utah claims Utahns lost millions in illegal gambling on the platform.
Still unconfirmed
- Kalshi argues that federal law applies to the platform's prediction market operations.
What to watch next
- Judicial rulings on whether federal law supersedes Utah state gambling regulations
- Court decisions regarding the request to stop Kalshi from offering wagers in Utah
- Potential legal responses from the two Susquehanna firms named in the lawsuit
confidence 100%Sources used for this update (11)
- The Salt Lake Tribune — Utah sues Kalshi, saying it’s ‘the manager of a back-alley gambling den’
- KSL News — Utah attorney general sues 'prediction market' Kalshi over alleged illegal gambling
- Deseret News — Utah just declared this activity a public nuisance
- FOX 13 News Utah — Utah sues Kalshi, claims Utahns lost millions in illegal gambling
- ABC4 Utah — Utah sues Kalshi, seeking up to $60 million in profit made off of Utahns
- KUTV — Utah Attorney General declares online gambling public nuisance in lawsuit against Kalshi
- coincentral.com — Utah Calls Kalshi a “Back-Alley Gambling Den” in New Lawsuit
- gizmodo.com — Utah Wants Millions From 'Back-Alley Gambling Den' Kalshi for Allegedly Running Illegal Gambling Business - Gizmodo
- www.sltrib.com — Utah sues Kalshi, saying it’s ‘the manager of a back-alley ...
- cdcgaming.com — Utah sues Kalshi, saying it’s ‘the manager of a back-alley ...
- www.addictioncenter.com — Utah Sues Kalshi, Accusing Platform Of Running A ‘Back-Alley ...
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