Judge allows Utah to enforce antigambling laws on Kalshi

A federal judge in Utah allowed the state to enforce its antigambling laws against Kalshi, rejecting the company’s argument that a federal commodities law preempts state restrictions on prediction markets. The decision marks a notable loss for prediction market firms… A federal judge in Utah allowed the state to enforce its antigambling laws against Kalshi, rejecting the company’s argument that a federal commodities law preempts state restrictions on prediction markets. The decision marks a notable loss for prediction market firms…