Prediction market exchange Kalshi sues Utah over proposed prop betting ban

By: Katie McKellar

Outlets: Utah News Dispatch

Published: February 24, 2026

Words: 938

Last Updated: 2 weeks, 2 days ago

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The prediction market exchange Kalshi is suing Utah in federal court in anticipation of a law — which hasn’t yet passed, but is advancing — that would ban proposition betting in the state.

Kalshi is challenging what it characterized in the suit as “an intrusion into the federal government’s exclusive authority to regulate derivatives trading on exchanges overseen by the Commodity Futures Trading Commission.”

The complaint filed in U.S. District Court says …

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