Episode Details

Kalshi’s high-stakes gamble to rebrand sports betting as a federally regulated commodity just got shut down by a federal judge, who affirmed Utah’s right to ban gambling — no matter the fancy label. The company thought a “federal sticker” would shield them from state laws, but the court ruled states always retain authority over gambling, even if it’s traded on a regulated exchange. Utah’s AG Derek Brown is celebrating, calling it a win for families and stressing that no amount of legal jargon can override state constitutional protections. Kalshi’s bet? Not paying off.

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