Utah files felony charges against Kalshi and its co-founders over alleged illegal gambling

Months after a federal judge rejected Kalshi’s effort to block enforcement of Utah’s gambling laws, the state charged the company, CEO Tarek Mansour and COO Luana Lopes Lara, The Associated Press reports in an article published by NBC News. The felony charges include 13 counts of violating the state’s gambling ban and one involving profiting off illegal activity. Kalshi argues prediction markets fall under federal, not state, jurisdiction and called the charges a “crazy overreach.”