A $10 sports bet helped trigger 13 felony charges against Kalshi in Utah

Utah filed 13 felony charges against Kalshi and named its two founders as co-defendants after an undercover agent placed $115 in sports bets. The Oct. 28 criminal filing names KalshiEX, CEO Tarek Mansour and Chief Operating Officer Luana Lopes Lara, escalating a dispute over whether federally regulated prediction markets must comply with state gambling laws. The prosecution follows an investigation in which a state agent placed 12 sports wagers totaling $114.87 on Kalshi between Sept. 13 and Sept. 26. The charges expose the company's founders to potential criminal penalties as federal regulators challenge Utah's authority to restrict the platform.