Kalshi adds crypto payments rail through Mesh partnership
The rollout comes as prediction markets face rising state-level scrutiny over sports event contracts in the US.
The rollout comes as prediction markets face rising state-level scrutiny over sports event contracts in the US.
Kevin O’Toole stated prediction markets have ‘perfected a wildly addictive formula’ to target ‘young, inexperienced bettors’ as part of his comments issued to CFTC Secretary Christopher Kirkpatrick.
As part of the hearing, the Senate Commerce Subcommittee on Consumer Protection, Technology and Data Privacy will speak on gameplay manipulation and potential insider trading.
The Commission previously filed a lawsuit against the state of New York on April 25, arguing it overstepped authority by pursuing legal action against crypto-linked prediction market operators.
If passed, Senate File 4511 would prohibit any prediction market offerings tied to sports, casino-style gambling, people, elections, catastrophes and death in Minnesota.
The Coalition for Prediction Markets also provided commentary to the CFTC, stating the definition of swaps is ‘certainly broad enough’ to include the trading of sports event contracts.
The company is on a roll as it continues to develop its new prediction market services.
The resolution was officially passed following a voice vote held on April 30, with Kalshi CEO Tarek Mansour encouraging the US House of Representatives to apply similar legal action.
The supplier has integrated the vertical as part of its betting portfolio, tapping in on the fast-expanding and highly controversial sector.
Muller will be responsible for streamlining operations through new AI processes.