A federal court in Utah has issued the first final judgment in the US against Kalshi, rejecting the prediction market operator's argument that federal commodities law pre-empts state gambling regulation.
The court sided with Utah and ruled that the state may enforce its gambling laws against Kalshi. The company had argued that federal law prevents states from pursuing enforcement against prediction market operators.
The ruling may serve as a reference for other states considering enforcement action against Kalshi and similar operators at the intersection of prediction markets and gambling regulation.
