Kalshi calls Utah's criminal case 'a crazy overreach' and says the state is playing politics
KalshiEX LLCKalshiEX LLC, in a statement to FOX 13 News
Kalshi says Utah's criminal case against the company and its co-founders is a crazy overreach and that the state is clearly playing politics, and says it expects to stop the case in court as it did in Arizona.
“This is a crazy overreach; Utah is clearly playing politics. We look forward to putting a stop to this in court, just like we did in Arizona.”
Reporting
Where this statement fits
Utah charges Kalshi and its founders with felony gambling promotion; Kalshi calls it 'a crazy overreach'
On October 28, 2026, the Utah Attorney General's Office filed criminal charges in state court against the prediction market KalshiEX LLC and its co-founders, chief executive Tarek Mansour and chief operating officer Luana Lopes Lara, alleging that Kalshi provided online gambling to an undercover agent in Utah. Attorney General Derek Brown says a federal court has already ruled that Utah's gambling laws apply to Kalshi, a ruling Kalshi has appealed. Kalshi calls the case 'a crazy overreach' and says Utah is playing politics. The Commodity Futures Trading Commission, which sued Utah two days earlier, says federal law preempts state gambling law for event contracts on the exchanges it regulates.
Source and context
Reporting
About this source
FOX 13 News (KSTU, Salt Lake City) report on the criminal charges, with excerpts from the probable cause affidavit, Attorney General Derek Brown's statement to FOX 13 and Kalshi's statement in response.
Before the quotation
FOX 13 News reports that Kalshi co-founders Tarek Mansour and Luana Lopes Lara were charged along with the company and were issued summons to appear in court.
After the quotation
FOX 13 adds that in Arizona, a federal judge blocked that state's prosecution of Kalshi.
How this statement is classified
The label describes this statement's response within the context above.
Why this label?
Relative to its offering of sports event contracts in Utah, Kalshi defends continuing its business by rejecting the state's criminal enforcement as political overreach.
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- Derek Brown
More from this case
Read the full caseDerek Brown says Kalshi kept taking bets from Utahns after a federal court ruled that Utah's gambling laws apply
“Gambling is illegal in Utah, whether you place the bet, run the game, or promote it. Calling it a ‘prediction market’ doesn’t change what it is, and being federally registered doesn’t put a company above the law. A federal court has already ruled that Utah’s gambling laws apply to Kalshi. Kalshi kept taking bets from Utahns anyway. That is illegal, and we’re putting a stop to it”Read statement
CFTC Chairman Michael Selig says event contracts inform the public and that the CFTC will defend its exclusive jurisdiction
“Event contracts do not just serve hedging and investment purposes—they also provide the public with information about the outcome of future events. Congress entrusted the CFTC to be the federal regulator with sole responsibility to oversee these markets. As I’ve said before, the CFTC has the expertise and responsibility to defend its exclusive jurisdiction over commodity derivatives, and that’s exactly what we’ll do.”Read statement
CFTC complaint says that, for Congress, transactions regulated under the Commodity Exchange Act are not gambling
Commodity Futures Trading Commission
“For Congress, then, CEA-regulated transactions are not gambling.”Read statement
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The Dispute Index. "Kalshi calls Utah's criminal case 'a crazy overreach' and says the state is playing politics". First published: 2026-10-30. Last updated: 2026-10-30. https://disputeindex.com/events/7240-kalshi-says-utah-s-criminal-case-against-the