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Hawaii working group studies options for gambling policy

Regulation

Hawaii’s 24-member Tourism and Gaming Working Group began researching possible gambling policy options and plans to recommend proposals to the legislature by year-end. At its first meeting, Department of Law Enforcement director Mike Lambert said illegal gambling enterprises handle $700 million to $800 million annually in the state. The group will consider whether to legalise certain forms of gambling; no policy decision has been reported.

The group’s recommendations could inform legislative decisions on whether and how gambling is regulated in Hawaii.

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Enforcement & compliance

Sporttrade gains CFTC DCM registration as Utah summons Kalshi founders

Utah has summoned Kalshi co-founders Tarek Mansour and Luana Lopes Lara to appear in Salt Lake City on 4 December over 14 criminal charges filed by the state’s attorney general. Separately, the CFTC approved Sporttrade as a designated contract market, following its derivatives clearing organisation approval in mid-October; Sporttrade said it is onboarding brokers including Fliff.

Tarek Mansour, who serves as chief executive, and Luana Lopes Lara, the chief operating officer, are the co-founders of Kalshi facing 14 criminal charges in Utah state court. The state's attorney general, Derek Brown, brought 13 felony counts plus a single misdemeanor against the company in a late-October filing that also identified Mansour and Lara as co-defendants. An initial arraignment in Salt Lake City is scheduled for 4 December. Daniel Wallach wrote in a post that the company must "personally appear" at 8:30 a.m. that day before Salt Lake City's Third District Court.

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