Utah AG sues Kalshi, pursues profits from prediction market company

Derek Brown likened the prediction market company to a “public nuisance“ that was “causing a significant and substantial ongoing harm“ to state residents. Update (Oct. 20, 9:53 pm UTC): This article has been updated to include a statement from Kalshi. Utah Attorney General Derek Brown announced a lawsuit against Kalshi, its affiliates and two Susquehanna trading companies, alleging that the prediction markets platform had been facilitating illegal betting in the US state since 2024.