The CEO of prediction market platform Kalshi, Tarek Mansour, says the legal dispute over regulation of the controversial industry could eventually reach the US Supreme Court.
Speaking on the Reuters Econ World podcast, Mansour outlined his belief that the legal process, which includes dozens of ongoing lawsuits across the US, could ultimately end up at the highest court.
Several U.S. states to have sued Kalshi argue that the prediction market’s sports event contracts should be subject to state gambling laws and taxation requirements.
Kalshi maintains that its contracts are financial derivatives that are regulated by the Commodity Futures Trading Commission (CFTC), meaning they are exempt from state oversight.
