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Kalshi CEO defends prediction-market transparency amid enforcement cases

Regulation

Kalshi chief executive Tarek Mansour defended prediction-market transparency at DC Fintech Week, saying visible transactions help identify suspicious activity. The report cited enforcement actions involving George Santos and Gabriel Perez, as well as a criminal case involving alleged trading by Gannon Ken Van Dyke. Kalshi said it has added employer disclosures and compliance checks for contracts involving potentially sensitive information.

The remarks come as Kalshi faces disputes over whether sports contracts fall under federal oversight or state gambling rules.

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Regulation

Illinois appeals injunction blocking enforcement of prediction markets law

Illinois officials appealed to the Seventh Circuit after a federal judge barred the state from enforcing its event-contract licensing and tax law. Judge Martha Pacold’s 30 October order covers licensing, fees, taxes and enforcement measures concerning swaps, including sports event contracts offered by CFTC-registered companies.

Illinois officials took the matter to the Seventh Circuit after a federal judge stopped the state from applying its event-contract licensing and tax law, the report said. The ruling came from Judge Martha Pacold in an order dated Friday, Oct. 30, according to the report. Pacold's order blocks enforcement of licensing requirements, associated fees, taxes and related criminal provisions, the report said.

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