COINTELEGRAPH · 2026-10-20 21:19 UTC

Utah AG sues Kalshi, pursues profits from prediction market company

Utah Attorney General Derek Brown sued Kalshi and affiliated companies, alleging illegal betting operations in the state since 2024 affecting over 32,000 users. Brown is seeking $30-60 million in profits from the prediction market platform, claiming it caused significant harm to Utah residents. A Utah judge ruled in August that federal CFTC laws do not preempt state gambling laws, and an appellate court denied Kalshi's injunction request in September.

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