Utah Files Criminal Charges Against Kalshi
The US state of Utah has filed criminal charges against the prediction market Kalshi. According to the filing, the company required an agent to confirm his location before each bet, and he reported he was in Utah. Prosecutors say the fee Kalshi collected on every wager counts as proceeds from illegal gambling.
Context
Context: Kalshi lets users trade on the outcomes of real-world events, and US states regulate gambling differently, so the company has faced several legal challenges. The case could shape how prediction markets operate across the United States.
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