Trump admin sues Utah to save Kalshi from the state's total ban on gambling
US agency has sued 10 states for trying to stop gambling on prediction markets.
US agency has sued 10 states for trying to stop gambling on prediction markets.
The short version
- 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.
- Utah, which prohibits gambling, sued Kalshi in a state court last week.
- Utah’s lawsuit seeks an order prohibiting Kalshi from offering bets on sports, elections, politics, and other events.
What happened
“Kalshi runs an online casino in Utah and calls it a prediction market. That violates Utah law,” Utah Attorney General Derek Brown, a Republican, said last week.
Why it matters
“Not only do our state laws ban gambling but Utah is one of only two states where gambling is also prohibited under the state constitution.
Summary by Nerd News Network. Read the full article at Ars Technica via the links above and below.