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“Wallach said he expects to see states bring more cases like Utah’s and that Utah’s criminal charges “could be a bellwether for how other states approach Kalshi and Polymarket” following Nevada’s appellate court victory.”

“Utah has filed criminal charges against prediction market company Kalshi and two of its co-founders, escalating a legal battle over whether states can regulate event contracts as gambling.”

“Wallach said he expects to see states bring more cases like Utah’s and that Utah’s criminal charges “could be a bellwether for how other states approach Kalshi and Polymarket” following Nevada’s appellate court victory.”

“The request follows lower court rulings on oversight of the prediction firms.”