Casino Lobby Fueled NY Lawsuit Against Kalshi, CEO Mansour Claims
New York sues Kalshi over alleged unlicensed gambling, a move Kalshi CEO says is driven by the gambling lobby, not regulatory concerns.Summary
Kalshi, a U.S. prediction‑market platform regulated by the Commodity Futures Trading Commission, is facing a lawsuit from the state of New York that alleges it operates as an unlicensed gambling service. CEO Tarek Mansour argues the suit is motivated by traditional gambling firms that fear disruption from prediction markets, rather than genuine consumer‑protection or tax concerns. He notes that Kalshi has already negotiated with state authorities, offered a 10 % tax proposal, and that the company serves about a million New York customers, generating nearly $200 million in 2026. The CFTC has defended Kalshi’s federal jurisdiction, while New York seeks restitution and penalties for each event contract it deems illegal. Mansour warns that shutting down Kalshi would leave many New Yorkers "pissed off," underscoring the broader industry clash between legacy gambling operators and emerging prediction‑market platforms.
(Source：Bitcoin News)