The state of Utah has filed 14 criminal charges against Kalshi and its executives, including CEO Tarek Mansour and COO Luana Lopes Lara. The charges include 12 counts of illegally promoting online gambling, signaling a broader crackdown on prediction market platforms. This move follows similar legal actions in states like New York, Nevada, and Arizona, where Kalshi has faced lawsuits over alleged violations of state gambling laws. The case is part of a larger national conflict between state regulators and the CFTC, which claims exclusive authority over such platforms.
October 29, 2026
Utah Files Criminal Charges Against Kalshi and CEO
Utah has charged Kalshi and its CEO with promoting illegal online gambling, marking a significant legal escalation.
Impact
The legal actions against Kalshi could intensify regulatory pressure on prediction markets, affecting their operations and investor confidence.