US Edition
Utah Expands Gambling Ban to Block Kalshi and Polymarket Event Wagers
Utah aims to block wagers on event-specific prediction markets citing moral opposition and gambling concerns, despite Kalshi reporting over $1 billion traded on the Super Bowl.
- Recently, Gov. Spencer Cox announced he will sign a bill expanding Utah's gambling ban to cover wagers on specific in-game events, targeting prediction markets like Kalshi and Polymarket.
- Rooted in history, Utah's long gambling ban stems from religious influence, with about half of its 3.5 million residents being Latter-day Saints, shaping policy since statehood.
- Regulatory filings show Kalshi, valued at about $20 billion, reports over $1 billion in Super Bowl volume; the CFTC supports its federal oversight claim.
- Legislative proposals also include bipartisan bills by Rep. Blake Moore to stop FanDuel and DraftKings from establishing prediction markets that could sidestep state bans, as federal action is anticipated.
- High-Profile involvement means experts warn the dispute will decide whether Congress or states control prediction markets, with Washington connections raising national stakes.
25 Articles
25 Articles
Utah’s anti-gambling tradition takes on Kalshi and Polymarket
For more than a century, Utah has kept gambling almost entirely out of the state. There are no casinos, no lotteries and no racetracks that allow bets, a prohibition rooted in the conservative ideals of The Church of Jesus Christ of Latter-day Saints, which views gambling as a vice that leads to selfishness and addiction.But now, the state is fighting a new, more challenging battle to keep gambling outside its borders. It’s on the verge of enact…
Legal Showdown: Utah’s Anti-Gambling Stance Challenges Prediction Markets Kalshi and Polymarket
As the landscape of gambling continues to evolve in the United States, the state of Utah finds itself at the center of a contentious legal battle over prediction market platforms, specifically Kalshi and Polymarket. These platforms, which allow users to place bets on the outcomes of various events, are now facing serious legal scrutiny in light of Utah’s longstanding anti-gambling traditions. Background of the Conflict In late February 2023, Kal…
Utah Moves to Block Prediction Markets as State-Federal Tensions Rise
The state of Utah is moving to shut down prediction market platforms like Kalshi and Polymarket as part of a broader clash over how this evolving sector should be regulated. The legislative push, marked by HB243 (Gambling Revisions), would redefine “proposition betting” as gambling, aiming to bar platforms that host event-based bets—whether framed as prediction markets or sportsbooks—from operating in the state. The Utah House cleared the bill o…
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