Utah Wins Round Against Kalshi, Signals Tightened Rules for Prediction Markets
U.S. District Judge Robert Shelby ruled Utah can enforce its gambling laws against Kalshi’s prediction markets, denying Kalshi’s bid for federal preemption. The decision does not order an immediate shutdown in Utah, but Attorney General Derek Brown says enforcement will proceed and Kalshi has appealed to the 10th Circuit. With Utah’s HB243 backing broader state regulation and similar legal battles ongoing in multiple states, Kalshi’s future in Utah remains uncertain and will hinge on appellate outcomes and potential federal action.