Kalshi CEO Tarek Mansour has used the operator’s latest court win to frame prediction markets as a matter of market access and federal oversight, after the US Court of Appeals for the Third Circuit ruled in the platform’s favor.
In a LinkedIn post published after the decision, Kalshi CEO, Tarek Mansour, said: “The Third Circuit ruled in Kalshi’s favor.”
He added: “People use prediction markets because they’re more fair, transparent and reward being right.”
Mansour also described the outcome in broader terms, stating: “Free markets work. We should keep them that way.”
The remarks followed a ruling that the Commodity Futures Trading Commission has exclusive jurisdiction over Kalshi’s sports-related event contracts, which are traded on a CFTC-licensed designated contract market.
That decision prevents New Jersey regulators, including the Division of Gaming Enforcement, from blocking the operator from offering those contracts to eligible residents in the state.
Kalshi’s dispute with New Jersey began after regulators issued a cease-and-desist order in 2025, alleging the operator’s sports event contracts breached state gambling laws, including restrictions on collegiate sports betting.
Kalshi then filed suit, arguing that its contracts qualify as swaps and fall under the CFTC’s remit under the Commodity Exchange Act.
While the court ruling centered on federal regulatory authority, Mansour’s public response placed the emphasis on the mechanics of prediction markets, pointing to fairness, transparency and price discovery rather than state-by-state gambling rules.
That language may also signal how Kalshi intends to continue positioning its product as legal and financial infrastructure, even as scrutiny of sports-related event contracts continues in other states.
The decision adds to the wider debate over whether event contracts should be treated primarily as financial products or as a form of wagering when tied to sporting outcomes.
GGI previously reported that the Third Circuit found the CFTC has “exclusive jurisdiction” over Kalshi’s sports event contracts and barred New Jersey regulators from interfering with the platform’s offering in the state.
Kalshi’s CEO did not reference New Jersey’s collegiate sports concerns in his public remarks, focusing instead on transparency and market access
