Utah Judge Denies Kalshi's Federal Protection Against Gambling Regulations

On Tuesday, a federal judge in Utah issued a summary judgment, determining that the Commodity Exchange Act does not supersede the state's anti-gambling laws as they pertain to Kalshi's contracts for sports events. The exchange has announced plans to appeal this decision to the Tenth Circuit, which would extend the scope of prediction-market appeals to seven out of the thirteen federal circuits.
On Tuesday, a federal judge in Utah issued a summary judgment, determining that the Commodity Exchange Act does not supersede the state's anti-gambling laws as they pertain to Kalshi's contracts for sports events. The exchange has announced plans to appeal this decision to the Tenth Circuit, which would extend the scope of prediction-market appeals to seven out of the thirteen federal circuits.
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