Kalshi CEO Backs US Bill to Stop Insider Trading in Prediction Markets
Prediction markets face renewed scrutiny as Kalshi CEO Tarek Mansour endorses legislation targeting insider trading. The MOVE follows controversial bets on offshore platforms, including a $400,000 wager on Venezuelan politics that raised red flags.
Mansour's LinkedIn post reveals alignment with Rep. Ritchie Torres' bill, which WOULD criminalize privileged information abuse in prediction markets. Kalshi claims existing compliance with NYSE/Nasdaq-level standards, positioning the bill as codification rather than innovation for regulated US platforms.
The proposed Public Integrity in Financial Prediction Markets Act emerges as offshore operators like Polymarket operate in regulatory gray areas. US-licensed exchanges increasingly differentiate themselves through transparency measures and cooperation with lawmakers.
