Utah Sues Kalshi and Susquehanna Firms to Halt Alleged Illegal Betting

Utah has sued Kalshi and Susquehanna firms, asking a court to halt what the state alleges is illegal wagering through Kalshi’s markets. The lawsuit also seeks injunctions, restitution and profits. Utah alleges that market makers helped sustain the wagering even after Kalshi suffered a defeat in federal court.

The case puts the firms accused of supporting Kalshi’s markets within the state’s effort to stop the alleged activity. Utah’s requested relief combines court orders aimed at halting wagering with financial remedies. The allegations make the market makers’ role part of the dispute, alongside Kalshi’s operation of the markets.

An injunction is a court order that can require a party to stop an activity. Restitution and profits are financial remedies Utah is seeking in the same case. The suit therefore asks for both a halt to the alleged wagering and financial relief tied to it. The lawsuit places Kalshi and the firms Utah accuses of supporting its markets together in the case.