Overview
Utah went on offense two months after winning summary judgment against Kalshi in federal court. On October 20, 2026 Attorney General Derek Brown filed a 63-page verified complaint in Salt Lake County state court against five Kalshi entities (Kalshi Inc., KalshiEX LLC, the two Kalshi Klear entities and Kalshi Trading LLC) and, for the first time on this tracker, an outside trading firm: Susquehanna International Group and Susquehanna Government Products. Utah’s constitution bars the legislature from authorizing gambling, and the complaint says Kalshi has offered sports, election, political and cultural contracts to Utah residents since at least September 2024.
It pleads five counts: public nuisance (illegal gambling under Utah law), unjust enrichment, civil conspiracy, a declaratory judgment and an injunction. It asks for an order barring the contracts in Utah, plus restitution, disgorgement, damages and punitive damages. The complaint estimates Kalshi’s fees on Utah accounts at $30.6 million to $61.2 million; those figures are the State’s allegations. Six days later the United States and the CFTC sued Utah in federal court to stop this case. (Caption, parties and counts read from the Attorney General’s verified complaint; the case number is from the CFTC’s file-stamped complaint, D. Utah No. 2:26-cv-01055, ¶¶ 2 and 66.)