Latest / I Don't Know Who Needs to Hear This, But...
Utah Sues Kalshi Over $3 Billion in Wagers
Utah Attorney General Derek Brown is suing Kalshi, alleging its contracts are illegal gambling in one of two states whose constitutions ban gambling. The complaint estimates Kalshi took $30.6 million to $61.2 million in fees on more than $3 billion wagered from Utah accounts, and asks the court to stop its sports, election, politics, culture and mentions contracts in the state, enforced by a geolocation provider. Kalshi says it answers to the CFTC. Also today: NFL and college football push Kalshi and Polymarket to a record $22.2 billion week; nearly a quarter of MLB teams signed…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.