Utah Sues Kalshi Over Alleged Illegal Gambling, Seeks to Block Sports Prediction Markets

HIGHLIGHTS Utah has filed a civil enforcement action against Kalshi. The state also named two Susquehanna trading firms as defendants in the suit. Utah is seeking to block Kalshi from offering certain markets in the state. Utah has sued prediction markets platform Kalshi for allegedly offering illegal online gambling through certain markets on its platform, including sports event contracts. The state is seeking injunctive relief and also to recover profits the platform has made from bets wagered.