Utah Attorney General Derek Brown submitted the formal criminal complaint in a Salt Lake City district court on Wednesday against the exchange and its executives. The filing names Kalshi alongside Chief Executive Officer Tarek Mansour and Chief Operating Officer Luana Lopes Lara. The state alleges the platform engaged in an illegal pattern of activity by marketing online gambling contracts to users. This prosecution leverages an August federal ruling that determined Utah retains the authority to enforce domestic gambling prohibitions against prediction operators like Kalshi and Polymarket.
Key points
State authorities are actively applying domestic criminal anti-gambling statutes against…: State authorities are actively applying domestic criminal anti-gambling statutes against prediction market platforms and their top corporate leadership.
The prosecution builds directly upon an August federal court ruling permitting state enfo…: The prosecution builds directly upon an August federal court ruling permitting state enforcement against prediction markets.
Both Kalshi and rival platform Polymarket were previously identified by a federal judge a…: Both Kalshi and rival platform Polymarket were previously identified by a federal judge as subject to Utah's anti-gambling laws.
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The charges come after a federal judge ruled that Utah could enforce its anti-gambling laws against prediction markets.
The US state of Utah has announced criminal charges against popular prediction market Kalshi and its two co-founders, accusing the platform and its executives of illegally promoting online gambling.
Utah Attorney General Derek Brown filed the charges against Kalshi, chief executive officer Tarek Mansour and chief operating officer Luana Lopes Lara on Wednesday in a district court in Salt Lake City.
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The charges come after a federal judge in August ruled that Utah could enforce its stringent anti-gambling laws against prediction markets such as Kalshi and Polymarket.
The criminal complaint accuses the defendants of 12 counts of online gambling promotion, one count of general…
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