Utah Attorney General Sues Kalshi Over Prediction Markets
Utah Attorney General Derek Brown filed a complaint against prediction market Kalshi and trading firms over alleged gambling law violations.
On Tuesday, Utah Attorney General Derek Brown announced a formal complaint against prediction market company Kalshi, its affiliates, and two Susquehanna trading firms, according to Cointelegraph.
State Law Violations
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The legal action targets the defendants over alleged violations of state gambling laws. Attorney General Derek Brown likened the prediction market company to a public nuisance that was causing a significant and substantial ongoing harm to state residents.
Key facts
- Utah Attorney General Derek Brown announced a complaint on Tuesday.
- The legal action targets Kalshi, its affiliates, and two Susquehanna trading firms.
- The complaint alleges violations of state gambling laws.
- The Attorney General described the platform as a public nuisance causing ongoing harm to state residents.
Source: cointelegraph.com
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