- Utah on Wednesday filed criminal charges against prediction market operator Kalshi and two of its executives, months after a federal judge rejected Kalshi's effort to prevent Utah from enforcing its strict anti-gambling laws against the activity.

The felony charges could represent a new tactic in how states try to assert regulatory authority over the fast-expanding activity, a clash that appears headed to a showdown at the U.S. Supreme Court.

The charges include 13 counts of violating the state's prohibition on gambling and another charge involving profiting off illegal activity.