The Utah prop betting ban bill, House Bill 243, puts proposition bets under the state’s gambling laws, putting it in direct conflict with federally regulated prediction market platforms. Kalshi took an early offensive, heading to federal court for an injunction before Utah could act, building … Read more
A former Trump official launched a coalition arguing prediction market platforms are illegal sports betting in disguise. Not all Republicans are aligned, with the CFTC backing the platforms while prominent party figures push for state-level regulation instead. States are already taking these platforms to court, … Read more
Kalshi took the unusual step of suing Utah first, using public threats from state officials as grounds that enforcement was on the way. Utah is pushing back through public statements, HB243, and a governor determined to keep prediction markets out of the state. The conflict … Read more
