Utah charges Kalshi and its CEO with illegally promoting online gambling

Utah filed 14 criminal charges against prediction market platform Kalshi and its executives, including CEO Tarek Mansour, alleging they illegally promoted online gambling in violation of state anti-gambling laws. This escalates an ongoing nationwide legal battle, with multiple states including New York, Nevada, and Connecticut also pursuing legal action against Kalshi and similar platforms, while the federal CFTC argues it has exclusive regulatory authority over prediction markets. Kalshi has dismissed the charges as a "crazy overreach" and stated it will fight the case in court.