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flag Utah bans prediction markets, sparking legal battle over state vs. federal control.

flag Utah is enacting legislation to expand its gambling ban to include prediction markets like Kalshi and Polymarket, targeting proposition bets on sports and other events, citing threats to youth and public morality. flag The state argues these platforms function as digital casinos, while the companies claim they are financial instruments regulated by the federal Commodity Futures Trading Commission. flag Kalshi has sued Utah, backed by federal regulators, in a case that could set a national precedent on whether states or the federal government controls such markets.

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