Kalshi has appointed Sudhir Jain as its new Chief Compliance Officer and Head of Regulatory Affairs.
After serving as head of the New York office at Patomak Global Partners for four and a half years, Jain has joined Kalshi and will lead its compliance division.
Jain began working with Kalshi’s Founders, Tarek Mansour and Luana Lopes Lara, one year ago and has continued a strong working relationship with the Founders. He also served as Executive Director for JP Morgan Chase & Co for eight years.
In a LinkedIn post, Jain said: “The ambition here isn't incremental. Kalshi is building the next generation exchange, rebuilding financial markets from the ground up to fit the future. Kalshi isn't just participating in the prediction markets space. They are leading it by a significant margin. I have always wanted to work with a team that is genuinely defining an industry, and when this opportunity came up, I could not pass it up.”
CEO at Kalshi, Tarek Mansour said:” As we enter this new phase, Luana and I aspire to set a new standard for integrity and customer protection for all financial services. Financial markets have changed and expanded dramatically in the last 10 years; it is time to update the rules to catchup and capture where the world is going,
Sudhir Jain is one of the few people that fundamentally sees financial innovation the way we do: regulation done right actually enables and accelerates growth, especially in the long-term and I can't think of anyone better than him to help us get this right.”
Kalshi has come under fire recently as the prediction market has been prohibited from offering contracts on politics and entertainment and not to mention a lawsuit filed against them for violating state gambling laws.
Jain will no doubt be busy as the new CCO, as Kalshi has faced a wealth of regulatory scrutiny in the past due to alleged compliance and oversight issues.
Jain studied business innovation at MIT Sloan School of Management
