According to The Block, the State of Utah filed a lawsuit against Kalshi and named certain Susquehanna-affiliated firms as parties. The state seeks to recover profits allegedly earned from gambling activities conducted through Kalshi’s platform. Utah also requests that betting on sports, political events, and cultural topics offered by Kalshi be blocked or restricted.
The complaint references operations described by the state as resembling a back-alley gambling den. No specific dollar amounts, dates of alleged profits, or internal details of the firms’ roles are provided in the source material. The focus remains on Utah’s legal objectives: recovering alleged gambling proceeds and preventing continued betting across the mentioned categories.
The lawsuit names Susquehanna firms as parties; however, no further identification of those firms—such as exact names or functions—is included in the summary provided. The action centers on regulatory concerns regarding Kalshi’s offerings in sports, politics, and culture betting.
