Kalshi Appeals Utah Prop Betting Ban After Judge Upholds State Law
Updated
Updated · KSL.com · Aug 6
Kalshi Appeals Utah Prop Betting Ban After Judge Upholds State Law
3 articles · Updated · KSL.com · Aug 6
Summary
Kalshi filed a notice of appeal Wednesday to the 10th Circuit after a federal judge let Utah enforce its new ban on proposition betting.
Tuesday's summary judgment by U.S. District Judge Robert Shelby held that federal commodities law does not preempt Utah's anti-gambling rules and that Kalshi had not shown it could not comply with both regimes.
Utah leaders cast the ruling as a win for the state's constitutional gambling ban, with Gov. Spencer Cox calling prediction markets "gambling" and Attorney General Derek Brown vowing enforcement.
Kalshi argues its event contracts fall under exclusive CFTC oversight, but Utah's broader push has also reached Congress through bills targeting sports-betting-like and other event-based contracts.