Utah sues Kalshi, seeks up to $61M over alleged illegal betting

Utah has filed a civil lawsuit against prediction market operator Kalshi and several trading firms, seeking to recover up to $61.2 million in allegedly unlawful fees and stop the platform from offering event contracts to state residents. Utah has sued Kalshi, affiliated companies and two Susquehanna trading firms over alleged illegal gambling. The state estimates Kalshi collected between $30.6 million and $61.2 million in fees from Utah-linked accounts. Attorney General Derek Brown wants the court to stop several categories of event contracts and order financial restitution.