Utah files criminal gambling charges against Kalshi and its co-founders

The state's attorney general accuses the prediction market of promoting illegal online gambling, one day after federal regulators sued Utah Utah has escalated its fight with Kalshi from a lawsuit to a criminal case. On October 28, Utah Attorney General Derek Brown filed criminal charges against KalshiEX LLC and its two co-founders, CEO Tarek Mansour and COO Luana Lopes Lara. The state accuses the prediction market platform of illegally promoting online gambling. The timing is hard to miss. The charges landed a day after the US Commodity Futures Trading Commission sued to stop Utah from enforcing its anti-gambling laws against the company. An undercover agent and a dozen bets The case centers on a sting. According to the charging documents, an undercover state agent opened a Kalshi account in September while confirming a Utah residence. That agent then placed 12 wagers on sports-related events. Brown, a Republican, brought a total of 14 counts: One count of pattern of unlawful activity Twelve counts of online gambling promotion, one for each wager the agent placed One count of general gambling promotion Naming the co-founders personally raises the stakes considerably. A civil disput...