Utahns have been crystal clear: gambling has no place in your state. Yet so-called “prediction market” platforms have engineered a backdoor into your communities. By rebranding sports bets as “event contracts” and “derivatives,” these platforms are mass-marketing sports betting as investing while claiming they are not subject to the laws and oversight that reflect Utah’s values.
Utahns know a sports bet when they see one. In fact, 79% of Utah voters say wagers offered by companies such as Kalshi and Polymarket are gambling — not investing. But what voters and policymakers may not realize is the quickly snowballing cost of this marketing deception: since 2025, “prediction markets” have already siphoned an estimated $1 billion in potential state gaming tax revenue across America.
