Utah files criminal charges against Kalshi’s CEO & COO

DraftKings pulled its own prediction market products from Utah this week as the state’s case against Kalshi escalated.

The hit

Utah has filed criminal charges against Kalshi CEO Tarek Mansour & COO Luana Lopes Lara, according to the Associated Press. The pair face 13 counts of violating the state’s gambling ban plus charges of profiting off illegal activity, filed after a federal judge ruled in August that Utah’s anti-gambling laws apply to prediction markets.

Why it matters

The Utah case isn’t the first time Kalshi has faced criminal charges, following allegations filed by Arizona’s attorney general in March. But the Utah charges name individual executives & are felonies, raising personal legal exposure beyond corporate penalties & pressure on operators leaning on federal CFTC registration as a shield.

The record

Charges filed	13 counts of illegal gambling against Mansour & Lara, per the Associated Press
Federal ruling	August ruling that Utah gambling law applies to prediction markets
Ohio fine	$5m fine on Kalshi after Ohio won a federal lawsuit in March
New York suit	Lawsuit filed against Kalshi in August
Arizona charges	Criminal allegations filed by Arizona AG Kristin Mayes in March
DraftKings exit	DraftKings ends Utah prediction market offerings this week

What happens next

Watch for Kalshi’s court response in Utah, where it says it will fight the charges as it did previously. The case adds to a patchwork of state actions that could eventually reach the Supreme Court.

Sources: Utah Files Criminal Charges Against Kalshi Executives – Poker News

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