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Five prediction market operators restrict services in Utah after Kalshi charges

Regulation

Five prediction market operators have withdrawn or limited some event contracts in Utah as state authorities pursue criminal charges against Kalshi and its co-founders. DraftKings, FanDuel and Fanatics introduced restrictions between 28 October and 4 November; Robinhood and PrizePicks have also restricted access, with measures varying by operator.

Utah restrictions affect which event contracts operators can offer to customers in the state.

End-of-day close DraftKings (DKNG), USD, to 6 November 2026
Story date25 September 20266 November 2026

Latest reported results

DraftKings NASDAQ: DKNG

Quarter ended 30 September 2026

Revenue
USD 1.33bn10-Q filing 0001883685-26-000041
Operating income
−USD 493.1m10-Q filing 0001883685-26-000041

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CFTC sues Utah over restrictions on prediction market contracts

The CFTC said it has sued Utah to prevent the state from restricting event contracts on CFTC-registered exchanges. The action follows Utah’s lawsuit accusing Kalshi of violating the state’s gambling prohibition; CFTC chairman Michael Selig said the agency was defending its authority over commodity derivatives.

On Tuesday the CFTC announced it had sued Utah, seeking to block the state from limiting the operations of exchanges registered with the agency. The agency's move answers a suit Utah brought against Kalshi, accusing the prediction markets platform of creating a public nuisance by evading the state's 130-year-old gambling ban.

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