Utah prosecutors bring 14 criminal counts each against Kalshi and founders
Utah prosecutors filed 14 criminal counts each against Kalshi, chief executive Tarek Mansour and chief operating officer Luana Lopes Lara, according to the report. The charges include a second-degree felony allegation of a pattern of unlawful activity; Kalshi argues its CFTC-regulated products fall under federal jurisdiction, while Utah says federal registration does not exempt the company from state gambling restrictions.
The prosecution tests state enforcement of gambling restrictions against prediction-market operators and their executives.