Kalshi has made a two-year, $2m investment into the National Council on Problem Gambling (NCPG) to help form a new strategic initiative focused on trader health and safety, while the operator was also named as the organization’s first-ever financial services & trading member.
The investment has allowed the NCPG to create an inaugural financial services and trading subcategory, which will look to expand responsible trading education and awareness across the prediction markets vertical.
"NCPG's goal has always been to mitigate harm by increasing education, awareness and understanding of risky behaviors, while ensuring access to trusted, scientific and evidence-based information and healthcare resources," NCPG Executive Director Heather Maurer said.
"Innovation and responsibility can and must evolve together. Kalshi's engagement demonstrates a commitment to mitigating harm before it occurs and ensuring support resources are accessible when they are needed."
The NCPG stated it maintains a "neutral position” on the regulation of “specific gambling, wagering or prediction products.” The organization also believes “cross-sector collaboration” will become “increasingly important” as prediction market operators continue to expand.
Kalshi Co-Founder and CEO Tarek Mansour also spoke on the new collaboration, having said, "At Kalshi, we believe in the power of prediction markets, and we are sensitive to the fact that they, like any financial trading products, come with risks.
"As prediction markets continue to evolve, we are deeply committed to setting a new standard for responsible trading by investing in the tools, education and protections needed to promote healthy participation and customer safety, and hope that over time all trading platforms with significant retail participation follow suit."
Kalshi will also join the NCPG’s Leadership Circle and serve as a platinum-level member of the organization.
On May 13, the operator named Sudhir Jain as its new Chief Compliance Officer and Head of Regulatory Affairs, having recently led Patomak Global Partners’ New York office for four and a half years.
Kalshi partnered with Mesh on May 6 to support cryptocurrency deposits and payouts across its prediction market platform, allowing users to fund accounts from more than 300 wallets and exchanges
