Utah sues Kalshi and two Susquehanna-affiliated trading firms.

PANews October 21 news, according to The Salt Lake Tribune and Crypto Briefing, Utah Attorney General Derek Brown has sued prediction market platform Kalshi and two Susquehanna-affiliated trading firms in the Third District Court of the state, alleging that after a federal court confirmed Utah's authority to enforce its gambling ban, they continued to offer sports and event contracts to local residents, while the market makers helped sustain the related trading. The lawsuit seeks to prohibit residents from accessing the relevant contracts, compensate residents for losses, disgorge illicit gains, and ask the court to find that the relevant platforms constitute a public nuisance. Utah estimates that Kalshi collected fees from accounts in the state ranging from $30.6 million to $61.2 million, and that more than 32,000 Kalshi accounts are registered under the names of Utah residents.