Kalshi CEO warns prediction markets may relocate overseas

Kalshi CEO Tarek Mansour stated that prediction markets require federal oversight rather than state regulation amid ongoing legal disputes over regulatory authority. At a recent DC Fintech Week event, Mansour emphasized that the critical issue is whether these markets will remain in the U.S. or move abroad. Several U.S. states contend that prediction market operators should adhere to state gambling regulations, labeling their services as illegal betting on sports outcomes. In contrast, Kalshi and the U.S. Commodity Futures Trading Commission argue that prediction markets are governed by federal financial product regulations, placing oversight with federal agencies. Mansour also refuted claims that Kalshi inflated trading volumes in its Bitcoin and Ethereum perpetual futures markets, attributing the allegations to misunderstandings regarding market maker orders.

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