{"id":660331,"date":"2026-10-29T05:46:19","date_gmt":"2026-10-29T05:46:19","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/660331\/"},"modified":"2026-10-29T05:46:19","modified_gmt":"2026-10-29T05:46:19","slug":"utah-files-criminal-charges-against-prediction-market-kalshi-and-company-co-founders-us-news","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/660331\/","title":{"rendered":"Utah files criminal charges against prediction market Kalshi and company co-founders | US news"},"content":{"rendered":"<p class=\"dcr-1s160rg\">Utah on Wednesday filed criminal charges against prediction market operator Kalshi and two of its executives, months after a federal judge rejected Kalshi\u2019s effort to prevent <a href=\"https:\/\/www.theguardian.com\/us-news\/utah\" data-link-name=\"in body link\" data-component=\"auto-linked-tag\" rel=\"nofollow noopener\" target=\"_blank\">Utah<\/a> from enforcing its strict anti-gambling laws against the activity.<\/p>\n<p class=\"dcr-1s160rg\">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 US supreme court.<\/p>\n<p class=\"dcr-1s160rg\">The charges include 13 counts of violating the state\u2019s prohibition on gambling and another charge involving profiting off illegal activity.<\/p>\n<p class=\"dcr-1s160rg\">The state\u2019s charging documents name Kalshi and its co-founders, chief executive officer Tarek Mansour and chief operating officer Luana Lopes Lara.<\/p>\n<p class=\"dcr-1s160rg\">In a statement, Utah attorney general Derek Brown said Kalshi has continued to operate in Utah, despite a federal court ruling that Utah\u2019s gambling laws apply to the company.<\/p>\n<p class=\"dcr-1s160rg\">\u201cGambling is illegal in Utah, whether you place the bet, run the game, or promote it. Calling it a \u2018prediction market\u2019 doesn\u2019t change what it is, and being federally registered doesn\u2019t put a company above the law,\u201d Brown said in a statement.<\/p>\n<p class=\"dcr-1s160rg\">The attorney general\u2019s office did not immediately say what sort of criminal penalties it would seek in the case, although the felony charges carry the possibility of jail time.<\/p>\n<p class=\"dcr-1s160rg\">In a statement, Kalshi called the charges a \u201ccrazy overreach\u201d and said that \u201cUtah is clearly playing politics\u201d.<\/p>\n<p class=\"dcr-1s160rg\">\u201cWe look forward to putting a stop to this in court, just like we did in Arizona,\u201d it said.<\/p>\n<p class=\"dcr-1s160rg\">Utah has been on the front lines of a battle between states and the federal government over who regulates the markets. Litigation has spread across roughly 20 states, creating a fragmented legal landscape that analysts say will likely be settled by the supreme court.<\/p>\n<p class=\"dcr-1s160rg\">Kalshi has maintained that prediction markets fall exclusively under federal jurisdiction and are not governed by state gambling laws.<\/p>\n","protected":false},"excerpt":{"rendered":"Utah on Wednesday filed criminal charges against prediction market operator Kalshi and two of its executives, months after&hellip;\n","protected":false},"author":2,"featured_media":660332,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[114,85,46],"class_list":["post-660331","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-il","tag-israel"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/660331","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=660331"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/660331\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/660332"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=660331"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=660331"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=660331"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}