Kalshi Bet This State Wouldn't Enforce Its Gambling Laws — It Lost

Prediction market apps like Kalshi claim you are trading on financial outcomes, but what if you are actually playing against a rigged house? On this episode of "Deseret Voices," host McKay Coppins sits down with Utah Attorney General Derek Brown to uncover why Utah is pursuing up to $60 million in damages against Kalshi in a landmark federal clash.

Brown pulls back the curtain on how prediction markets bypass state gambling laws, reveals how institutional Wall Street trading firms act as the casino, and exposes the brazen marketing that secretly brought camera crews onto BYU campus. Whether you view prediction markets as innovative financial hedging or predatory sports betting dressed in Wall Street jargon, this conversation tackles the constitutional crisis and consumer protection dilemmas.

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Welcome to Deseret Voices, a weekly podcast from the Deseret News (https://deseret.com) that brings depth, nuance and respect to conversations about today’s complex topics and current events. Join our hosts, award-winning journalists McKay Coppins and Jane Clayson Johnson, every Thursday as they go beyond news headlines by talking with newsmakers and thought leaders to find common ground and uncover unique perspectives on today’s critical issues in politics, faith, sports, and more.