(Salt Lake City, UT) — A major prediction market is suing Utah over a proposed state law that would ban their industry. Kalshi says so-called proposition bets are regulated at the federal level by the Commodity Futures Trading Commission. Last week, that agency made it clear that prop bets are part of their jurisdiction. In their lawsuit, Kalshi points to written statements by Governor Spencer Cox and Attorney General Derek Brown. Both men say they’re determined to ban prop betting. Both call it a form of gambling but Kalshi thinks that’s incorrect.