Utah Bans Prediction Markets, Clashing with Federal Law

0:00Durham's story is making news on March 12th. Utah has long banned nearly all forms of gambling, thanks to its deep ties to the Church of Jesus Christ of Latter-day Saints. Now, the state is pushing a new law to block prediction markets like Kalshi and Polymarket from operating there. These apps let people bet on events from weather to elections using just their phones. The bill targets proposition bets on sports, like a player's performance, to cut off revenue for these platforms and big sportsbooks. Governor Spencer Cox plans to sign it soon, calling the apps a dangerous push toward addiction, especially for young people. State leaders, all tied to the Church, see this as a moral fight against vice. The Church teaches that gambling destroys families and promotes greed. Utah's ban dates back to 1895, making it one of the strictest in the nation alongside Hawaii. Kalshi has already sued Utah in federal court to stop the law, backed by the Federal Commodity Futures Trading Commission.

1:00That agency claims exclusive control over these markets as financial tools, not gambling. Courts and other states have split rulings on similar bans. Meanwhile, a bipartisan bill from Utah, Congressman Blake Moore, and a California Democrat aims to regulate prediction markets nationwide. It would bar bets on wars, elections, or terror attacks, and let states nick sports wagering. This clash could set rules for the whole country. This episode is supported by our sponsor, See Details in the description. A pillow that plays your sound quietly, comfortably, effortlessly, built for nighttime listening, S-O-L-I-SoliPillow.com.