Federal judge lets Utah enforce its anti-gambling laws on the prediction market Kalshi

A federal judge ruled that Utah can enforce its anti-gambling laws on prediction markets such as Kalshi, rejecting the company's request to block state restrictions. The ruling affirmed that Utah's ability to regulate these platforms under state law, which bans proposition betting in sports, is not prevented by existing federal law. Although Kalshi plans to appeal, the decision represents a victory for states attempting to curb the popularity of prediction markets.