Kalshi plans appeal after Utah judge backs state gambling enforcement powers

Kalshi is heading toward an appeal after a federal judge in Utah ruled that the Commodity Exchange Act does not shield the prediction-market company’s sports contracts from state gambling laws. Shelby sided with Utah officials on Tuesday (August 4), granting them summary judgment while rejecting Kalshi’s bid for a preliminary injunction. The company wanted the court to find that federal commodities regulation prevented Utah from enforcing its anti-gambling statutes