Kalshi CEO says state-led oversight of U.S. prediction markets would push them out
Summary
Kalshi CEO Tarek Mansour said the company’s court fight over sports event contracts is about whether prediction markets remain in the U.S. under federal oversight or move offshore. States argue the contracts are illegal sports betting, while Kalshi and the CFTC say federal commodities law applies. Federal appellate courts have split, and New Jersey has asked the Supreme Court to intervene. Mansour also rejected claims that Kalshi inflated crypto perpetual-futures volume, attributing repeated trade sizes to market makers. The CFTC recently issued a rule and proposed another to strengthen its authority over event contracts.
