This article was originally published on October 28 and updated on October 29 with information about the felony charges filed against Kalshi and its co-founders.
The Trump administration is trying to stop Utah from enforcing its gambling ban against Kalshi, making Utah the 10th state sued by the US government agency that regulates prediction markets.
Meanwhile, Utah Attorney General Derek Brown filed criminal charges in a state court against Kalshi and its founders on Wednesday. The attorney general's office provided us with court filings listing charges against KalshiEX, LLC, Kalshi co-founder and CEO Tarek Mansour, and Kalshi co-founder and COO Luana Lopes Lara.