Kalshi, cofounders hit with criminal charges in US state of Utah
The charges come after a federal judge ruled that Utah could enforce its anti-gambling laws against prediction markets.
The US state of Utah has announced criminal charges against popular prediction market Kalshi and its two cofounders, accusing the platform and its executives of illegally promoting online gambling.
Utah Attorney General Derek Brown filed the charges against Kalshi, chief executive officer Tarek Mansour and chief operating officer Luana Lopes Lara on Wednesday, a day after US President Donald Trump’s administration sued the state to block its civil enforcement actions against the platform.
According to the criminal complaint filed in a Salt Lake City court, Kalshi facilitated an undercover law enforcement officer’s wagers on sports events, including games in the NFL.
Utah has some of the strictest prohibitions against gambling in the US, with its state constitution explicitly barring lawmakers from legalising the activity.