Utah is suing Kalshi, likening it to a back-alley gambling den and naming Susquehanna firms in the complaint. Prediction markets now carry a state-level legal overhang, and the partner exposure is the

What happened: Utah sued Kalshi, describing it as a "back-alley gambling den," and named Susquehanna firms in the suit. The state seeks to recover alleged gambling profits and block Kalshi bets across sports, politics and culture. Why it matters: The suit adds state-level legal pressure on Kalshi's event contracts, with Utah seeking to halt its betting markets in those categories. Key numbers: omit

Utah sued Kalshi, describing it as a "back-alley gambling den," and named Susquehanna firms in the suit. The state seeks to recover alleged gambling profits and block Kalshi bets across sports, politics and culture.

The suit adds state-level legal pressure on Kalshi's event contracts, with Utah seeking to halt its betting markets in those categories. Key numbers: omit