SALT LAKE CITY (ABC4) — Prediction market Kalshi requested an emergency injunction to stop Utah from enforcing its anti-gambling laws.
Kalshi has requested federal intervention following a court ruling that allows Utah to enforce anti-gambling laws against predictive markets. The company is seeking emergency injunctive relief to prevent potential civil or criminal charges against its personnel.
This legal move comes as the firm awaits a decision from the 10th Circuit regarding whether state enforcement is preempted by the Commodity Exchange Act (CEA).
“Kalshi and its personnel meanwhile face criminal exposure and unrecoverable losses because Defendants are unwilling to stay enforcement pending the resolution of Kalshi’s appeal,” stated the filing.
Read more
https://www.abc4.com/news/politics/kalshi-requests-utah-injunction/
