Utah files criminal charges against prediction market Kalshi and its two co-founders

What happened

The state accuses the platform and its executives of illegally promoting online gambling. CEO Tarek Mansour and chief operating officer Luana Lopes Lara are charged with it.

Counts of online gambling promotion

12 counts

The complaint lists 12 counts of online gambling promotion, one count of general gambling promotion and one count of pattern of unlawful activity.

Background

The charges follow an August ruling by a federal judge that Utah can enforce its anti-gambling laws against prediction markets such as Kalshi and Polymarket.