Kalshi’s CEO has said that the battle over whether prediction markets are regulated federally or by states is instead a fight over whether the industry remains in the US or is forced to go overseas.
According to CoinDesk, Kalshi CEO Tarek Mansour made the comments on Wednesday during an event at DC Fintech Week. “It’s not a choice of state versus federal market. It’s a choice of whether prediction markets exist in the US or whether they go offshore,” proclaimed the executive.
Mansour also said he felt “pretty good” about Kalshi’s overall standing in the regulatory battle and maintained that its sports-event contracts were federally regulated, rejecting arguments that such contracts lack economic consequences sufficient to justify their classification as financial contracts under federal law, calling it “ludicrous” to say otherwise.
