By SectorWire desk ·
The report said that federal judge Robert J. Shelby ruled that Utah’s gambling laws cover Kalshi’s sports event contracts. He granted summary judgment for the state and closed the case.
The judgment subjects Kalshi’s sports contracts to Utah’s gambling prohibition.
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The judgment leaves Kalshi’s sports contracts subject to Utah gambling restrictions.
The dispute concerns whether states can apply gambling rules to sports-event contracts offered by federally regulated exchanges.
The findings bear on state challenges to Kalshi and Polymarket's position that their contracts fall exclusively under CFTC jurisdiction.
The analysis questions Kalshi’s explanation for concentrated activity in its ether perpetual contracts.
The new contracts allow partial settlement rather than requiring players to reach the full statistical target.
The dispute could affect whether prediction market operators face state gambling laws alongside federal oversight.