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Utah Attorney General Derek Brown has filed criminal charges against prediction market platform Kalshi and its co-founders, CEO Tarek Mansour and COO Luana Lopes Lara, on allegations of promoting illegal online gambling, Crypto Briefing reported.
Utah investigators based the case on 12 sports-related contract bets allegedly placed on Kalshi by an undercover investigator in September, bringing a total of 14 charges: one count of repeated unlawful conduct, 12 counts of promoting online gambling, and one count of promoting gambling.
Earlier, on Oct. 20, Utah filed a civil suit seeking to bar Kalshi from operating in the state. The U.S. Commodity Futures Trading Commission and the Justice Department had also sued Utah, arguing state gambling laws cannot be applied to federally regulated prediction market contracts.