Utah files 14 gambling counts against Kalshi, names its co-founders
The filing names Tarek Mansour and Luana Lopes Lara as co-defendants; Kalshi announced a $1B Series G at a $40B post-money valuation on October 29th.
By RuntimeWire Staff · Published
Primary source: The Verge
Why it matters
Utah has put Kalshi's founders and sports-contract model at the center of a state-versus-federal fight. The result could shape how prediction markets operate across state lines as Kalshi seeks to expand beyond its original event-contract business.
Utah filed a 14-count criminal case against Kalshi on October 28th, naming co-founders Tarek Mansour and Luana Lopes Lara as co-defendants and challenging the sports contracts at the center of its business.…
When you purchase through links in our articles, we may earn a small commission. This doesn’t affect our editorial independence.