Utah's Attorney General filed 14 criminal counts on October 28 against KalshiEX LLC and its two co-founders, CEO Tarek Mansour and COO Luana Lopes Lara, in the state's Third District Court. Utah bans all forms of gambling, and the charges allege illegal online gambling.

The case is built on a small undercover test: an investigator placed 12 sports event trades totalling $114.87 in September. Prosecutors say the company continued serving Utah residents after a federal judge ruled for the state in August and an appeals court refused Kalshi an injunction.

No arrest warrants were issued and both executives were summoned to appear. Kalshi described the filing as an overreach and said it will contest the charges in court, as it has done in Arizona. The dispute is part of a wider fight over whether sports event contracts on federally regulated exchanges count as gambling under state law.

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Source: Gambling Industry News. Summary written by Playfield Review.