Kalshi CEO Tarek Mansour has strongly refuted criminal charges filed by Arizona, labeling them as "a complete overreach" and not related to gambling, vowing to contest them in court. This also sparks debate on the regulatory jurisdiction of prediction markets.
Tarek Mansour, co-founder and CEO of the prediction market platform Kalshi, has challenged the criminal charges brought against him by Arizona authorities this week, arguing they are "a complete overreach" and that the company's activities are "not gambling."
"We believe this is a complete overreach and we look forward to fighting it in court," Mansour stated.
Are prediction markets solely under the jurisdiction of the U.S. Commodity Futures Trading Commission (CFTC)?