Five rivals cut Utah markets as Kalshi faces 14 charges

The CFTC has sued to stop Utah enforcing its gambling law against federally regulated operators.

The hit

DraftKings, FanDuel, Fanatics, Robinhood & PrizePicks have withdrawn or restricted Utah event contracts, according to Yogonet. The moves follow Utah’s filing of 14 charges, including 13 felony counts, against Kalshi & co-founders Tarek Mansour & Luana Lopes Lara.

Why it matters

DraftKings & FanDuel have cut sports, political & novelty contracts in Utah while keeping financial contracts open. Fanatics took a broader approach, halting all new Utah trades rather than limiting cuts to categories. Robinhood restricted sports, cultural, election & political contracts but maintained its contracts did not violate state law. PrizePicks withdrew its Team Picks & Culture Picks products but kept its fantasy-style Player Picks offering. Traders in Utah now face a shrinking menu even where no firm has been charged.

The record

DraftKings restricts Utah offerings	From 28 October, sports, political & novelty contracts cut
FanDuel Predicts restricts Utah offerings	From 30 October, sports, political & novelty contracts cut
Fanatics Markets halts Utah trades	From 4 November, all new trades stopped
Robinhood restricts Utah positions	From 2 November, sports, cultural, election & political contracts cut
Undercover trades cited by Utah	12 sports-related trades placed by an Attorney General’s Office agent

What happens next

Watch the CFTC’s lawsuit against Utah & Kalshi’s ongoing criminal case.

Sources: Five prediction market operators restrict Utah services amid Kalshi criminal case

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