Utah Sues Kalshi and Susquehanna Firms to Halt Alleged Illegal Betting

Crypto Insight Summary: The state seeks injunctions, restitution and profits, alleging that market makers helped sustain wagering despite Kalshi’s federal court defeat. Crypto Insight Analysis: Direction: Neutral Impact: No Impact Horizon: Short-term (1-3 days) Reasoning: Legal action against market makers is unrelated to crypto market fundamentals.