Utah Files Criminal Charges Against Kalshi in Escalating Prediction Market Dispute

Utah has filed felony criminal charges against prediction market operator Kalshi and its two co-founders, intensifying a national dispute over whether federally regulated event contracts constitute illegal gambling under state law. The charges, filed on October 28, name Kalshi Inc. and co-founders Tarek Mansour and Luana Lopes Lara, and allege the company unlawfully promoted gambling in a state whose constitution has prohibited the practice since statehood. The Charges The criminal complaint includes 14 counts against the company and its executives. The most serious allegation is a single count of pattern of unlawful activity, classified as a second-degree felony.