Kalshi CEO says state lawsuits reflect prediction market industry disputes
Kalshi Chief Executive and co-founder Tarek Mansour said the company's legal challenges reflect resistance from established gambling businesses as prediction markets grow. New York has sued Kalshi, alleging its event contracts breach state gambling law; Kalshi maintains that the CFTC, rather than state regulators, oversees its markets.
The dispute highlights uncertainty over whether state regulators or the CFTC oversee Kalshi’s event contracts.