Utah Charges Kalshi and Its Founders, Escalating Fight Over Who Can Regulate Prediction Markets
The action came after a federal judge rejected Kalshi’s effort to prevent Utah from enforcing its anti-gambling laws.
HARRISBURG, Pa., Nov. 1, 2026 (AP) — Utah on Wednesday filed criminal charges against prediction market operator Kalshi and two of its executives, months after a federal judge rejected Kalshi's effort to prevent Utah from enforcing its strict anti-gambling laws against the activity.
The felony charges could represent a new tactic in how states try to assert regulatory authority over the fast-expanding activity, a clash that appears headed to a showdown at the U.S. Supreme Court.
