Utah has filed 14 criminal charges against Kalshi and two co-founders.

The U.S. Attorney General's office has filed 14 criminal charges against prediction market platform Kalshi and its co-founders Tarek Mansour and Luana Lopes Lara, including one second-degree felony, 12 third-degree felonies, and one Class A misdemeanor. The charges allege that an undercover agent placed bets on 12 sporting events in Utah through Kalshi. Kalshi claims Utah overstepped its authority and will appear in court. The U.S. CFTC has sued Utah, arguing that federal law has exclusive jurisdiction over event contracts (Source: Deseret News, KSL).