Utah charges 'prediction market' Kalshi and its two founders with promoting illegal gambling, defying a federal lawsuit to stop it

Utah Attorney General Derek Brown filed criminal charges against Kalshi co-founders Tarek Mansour and Luana Lopes Lara, a day after the CFTC sued to block the state's own anti-gambling lawsuit. The charges include a second-degree felony count of unlawful activity and 12 felony counts of online gambling promotion, after an undercover agent placed bets on football and baseball. Kalshi called the move "crazy overreach" and vowed to fight it in court.