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Federal judge lets Utah enforce its anti-gambling laws on the prediction market Kalshi
The ruling lets Utah keep treating Kalshi’s sports contracts as gambling, and the company said it will appeal.
- U.S. District Judge Robert Shelby ruled on Tuesday that Utah can enforce its anti-gambling laws against Kalshi, rejecting the platform's request to block state restrictions.
- Utah Gov. Spencer Cox and Utah Attorney General Derek Brown view prediction markets as gambling, which violates state law rooted in values held by the Church of Jesus Christ of Latter-day Saints.
- Kalshi argued that federal law governs its "event contracts," but Shelby wrote it is "implausible" that Congress intended to override state authority through financial legislation.
- The American Gaming Association applauded Utah for upholding its laws, stating "prediction markets' can't rebrand it and offer it outside the law," while Kalshi plans to appeal.
- Courts across the country remain divided, with judges in Maryland and Nevada ruling against Kalshi while New Jersey and Arizona courts have permitted its operations.
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43 Articles
Federal Judge Allows Utah To Enforce Gambling Laws Against Kalshi
A federal judge has ruled that Utah may enforce its anti-gambling laws against prediction market platform Kalshi, rejecting the company's request to block state restrictions. According to the report, U.S. District Judge Robert Shelby found that Utah retains the authority to regulate the platform under state gambling laws despite Kalshi's argument that its event contracts are governed by federal financial regulations.The report said Utah Governor…
·United States
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Associated Press News+31 Reposted by 31 other sources
Federal judge lets Utah enforce its anti-gambling laws on the prediction market Kalshi
Utah can enforce its strict anti-gambling laws on prediction markets such as Kalshi and Polymarket under a federal court ruling.
·New York, United States
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Coverage Details
Total News Sources43
Leaning Left10Leaning Right6Center19Last UpdatedBias Distribution54% Center
Bias Distribution
- 54% of the sources are Center
54% Center
L 29%
C 54%
R 17%
Factuality
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