Kalshi CEO says state-led oversight of U.S. prediction markets would push them out
In this news:
Key takeaways
- Kalshi CEO Tarek Mansour warns state-led oversight will push prediction markets offshore.
- The legal dispute over prediction markets has split federal appellate courts, leading to Supreme Court involvement.
- Mansour defended Kalshi against accusations of inflated trading volume in crypto perpetual futures.
So far, the dispute has risen to a number of federal appellate courts, where the courts have now split, with one major ruling on Kalshi's side and two backing the states' view. As a result, New Jersey asked the U.S. Supreme Court to take the case, and prominent groups have been sharing their views with the high court, including the National Football League.
Mansour said, “It's not a choice of state versus federal market. It's a choice of whether prediction markets exist in the U.S. or whether they go offshore.”
He argued that he's considered Kalshi's regulatory relationship since its beginnings, and “it really elegantly fit under definitions of commodity.” He said the Commodity Exchange Act was a “truly beautiful statue” that allowed a shift from agricultural futures to oil and metals to less tangible financial products like swaps.
Mansour also responded Wednesday to accusations of inflated trading volume in bitcoin and ether perpetual-futures markets on his platform. He said that “there's a lot of crazy” on social media site X, formerly Twitter. The questions focused on often-recurring trade sizes that represented a significant portion of Kalshi's volume. Mansour pointed again at the Washington event to fixed-size orders from market makers.
Share the article:
Trending News & Crypto World
.png)
Latest Crypto News
Top Trending Cryptocurrencies on The Market
Current Price
$0.02144
Market Cap
$253.8M -1.24%
24h Volume
$16.7M
Supplies
100.7B / ∞
Current Price
$0.04776
Market Cap
$251.0M -5.71%
24h Volume
$8.2M
Supplies
5.2B / ∞
Current Price
$0.02287
Market Cap
$250.4M -2.55%
24h Volume
$8.0M
Supplies
11.6B / ∞
Current Price
$0.9999
Market Cap
$249.9M -0.07%
24h Volume
$131.6M
Supplies
5.0B / ∞
Current Price
$14.152
Market Cap
$249.8M -4.69%
24h Volume
$1.0M
Supplies
17.6M / 21.0M
Current Price
$0.00004520
Market Cap
$249.6M -0.98%
24h Volume
$6.3M
Supplies
6.4T / ∞
Current Price
$0.9936
Market Cap
$248.3M 0.15%
24h Volume
$3.6M
Supplies
1.0B / 1.0B
Current Price
$0.000001186
Market Cap
$248.2M 0.34%
24h Volume
$16.4M
Supplies
210.0T / 210.0T
Current Price
$0.03724
Market Cap
$239.3M 2.33%
24h Volume
$15.4M
Supplies
6.4B / ∞
Current Price
$1.026
Market Cap
$236.2M 0.00%
24h Volume
-
Supplies
230.4M / ∞
Current Price
$0.04067
Market Cap
$234.8M -6.13%
24h Volume
$25.6M
Supplies
10.0B / 10.0B
Current Price
$0.1563
Market Cap
$234.1M -3.75%
24h Volume
$76.1M
Supplies
1.5B / 1.5B