The CEOs of Polymarket and Kalshi Are Locked in a Bitter Feud

The CEOs of Polymarket and Kalshi Are Locked in a Bitter Feud

Polymarket and Kalshi have emerged as the biggest players in the burgeoning prediction markets industry. The platforms have popularized betting on the outcomes of future events, from when the United States would invade Iran or Venezuela to whether Amazon cofounder Jeff Bezos would show up at this year’s Super Bowl. The proliferation of the addictive trend, facilitated through major partnerships with the mainstream media, has caused an alarming n…

Kalshi Faces Lawsuit Over Iran Military Action Betting Market

A recent lawsuit has brought scrutiny to the operations of Kalshi, a platform that allows users to place bets on future events through prediction markets. According to reports from The Information, the company faces legal action over a specific market tied to potential conflict involving Iran. This case highlights tensions between financial innovation and regulatory oversight in the betting industry, particularly when markets touch on sensitive …

Prediction Market Kalshi Sued Over Khamenei Trade Carveout

A federal class-action suit targets prediction platform Kalshi, accusing the company of failing to clearly disclose a death carveout tied to a market that forecast the fate of Iran’s former supreme leader. The case centers on the “Ali Khamenei out as Supreme Leader” market, which was halted after the death of Ayatollah Ali Khamenei was confirmed, leaving won bets unsettled in a way the plaintiffs say was not anticipated by users. The plaintiffs …

Kalshi Faces Lawsuit Over Khamenei Prediction Market

Prediction market Kalshi is facing a class-action lawsuit after the platform voided trades in a market forecasting the ouster of the Iranian leadership.