Kalshi, the federally regulated prediction market platform, suffered a setback in Utah this week within the broader context of an escalating multi-front legal war that threatens the company's core business model.
On Tuesday, U.S. District Court Judge Robert Shelby denied the company’s motion for a preliminary injunction against the state, and decided that “the federal law relied upon by Kalshi does not preempt Utah's ability to enforce its anti-gambling laws.”
