Utah Files Felony Charges Against Kalshi, Co-Founders Over Sports Bets

Crypto Insight Summary: The state says an undercover agent placed a dozen sports wagers on Kalshi, a day after the CFTC sued Utah to block its enforcement actions. Crypto Insight Analysis: Direction: Neutral Impact: No Impact Horizon: Short-term (1-3 days) Reasoning: Legal action against a sports prediction market has no meaningful link to broader crypto markets.