Utah Becomes Second State to File Criminal Charges Against Kalshi

Utah is already pursuing civil penalties for Kalshi for alleged violations of the state's anti-gambling laws. Law enforcement in the state has added criminal actions to its pursuit, with Kalshi co-founders Luana Lopes Lara and Tarek Mansour facing multiple felony counts. With this action, Utah becomes the second state to seek criminal penalties for Kalshi, following neighboring Arizona. With this development, the CFTC's lawsuit against Utah and Kalshi's appeal to the US 10th Circuit Court of Appeals become more pivotal for the company. Utah Attorney General Derek Brown shared the filing against Kalshi, Lara, and Mansour on Wednesday.