Utah sues Kalshi, calls it manager of ‘back-alley gambling den’
Utah’s attorney general alleges Kalshi advertised itself as legal in all 50 states despite the state’s gambling ban.
The hit
Utah has sued Kalshi, with Fox13 saying the state calls it the manager of a back-alley gambling den. Attorney General Derek Brown announced the filing on Tuesday, alleging Kalshi’s prediction contracts are indistinguishable from sportsbook bets & took in billions of dollars, mostly on sports.
Why it matters
The lawsuit accuses Kalshi of advertising its betting activity as legal in all 50 US states despite Utah’s constitutional gambling ban.
The record
| Verified Utah accounts | Nearly 33,000 as of February, according to data from Kalshi, according to the state |
|---|---|
| Alleged losses to fees & bets | $36m to $66m lost by Utah residents |
| Federal ruling | A judge ruled over the summer Utah could block prediction market firms, citing the state’s constitutional gambling ban |
What happens next
Watch for Kalshi’s response in court, including its renewed bid to block Utah from taking action against it.
Sources: Utah sues Kalshi, saying it’s the manager of a back-alley gambling den
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