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Kalshi CEO Tarek Mansour argued that prediction markets should be overseen at the federal, not state, level amid a legal dispute over regulatory authority, CoinDesk reported. Speaking at a recent DC Fintech Week event, Mansour said the issue is not whether state or federal authorities regulate the market, but whether prediction markets remain in the U.S. or move overseas.
Several U.S. states argue prediction market operators should be subject to state gambling rules because they offer what the states describe as illegal betting services on sports outcomes. Kalshi and the U.S. Commodity Futures Trading Commission, by contrast, maintain that prediction markets fall under federal rules for financial products and that oversight authority rests with federal agencies.
Mansour also denied allegations that Kalshi inflated trading volume in its Bitcoin and Ethereum perpetual futures markets. He said claims raised on social media stemmed from a misunderstanding of market maker orders.