Kalshi CEO warns state-led oversight could force prediction markets offshore

Kalshi CEO Tarek Mansour stated that if U.S. courts grant states gambling authority over prediction markets, the firm will be forced to move overseas. While some federal courts have ruled against this view, Mansour feels confident in Kalshi's U.S. legal standing. States have challenged Kalshi, accusing it of illegal sports wagering, while the Commodity Futures Trading Commission (CFTC) maintains that federal agencies should be the sole watchdog. The dispute has reached federal appellate courts with split decisions, leading New Jersey to ask the U.S. Supreme Court to intervene.