A controversial prediction market platform founder declared his company answers to the Commodity Futures Trading Commission (CFTC) only.
Kalshi’s Tarek Mansour stated during an interview with TechCrunch on Friday he isn’t “necessarily very concerned” about cease-and-desist orders he received from five U.S. states. Those jurisdictions argue his sports-event outcome markets, which are similar to sportsbook odds, go against these states’ legal sports betting regulations and require a license to operate.
Mansour doesn’t see that stopping him from offering his markets in all 50 states.
“We are literally like a financial exchange, but the underlying trading is events,” Mansour said. “The CFTC is our regulator.”
