US EditionKalshi faces backlash over handling of $54M market on Khamenei’s ouster
The killing triggered protests killing 34 in Pakistan and missile attacks in Lebanon, with tens of thousands displaced amid heightened regional tensions.
- Kalshi refused to pay out winnings on a $54 million bet regarding Iranian Supreme Leader Ayatollah Ali Khamenei being ousted by death, citing rules against markets directly tied to death.
- Users were outraged after Kalshi froze trades and disputed payouts, with potential winnings over $63,000, leading to complaints and vows to delete accounts.
- Kalshi reimbursed users for losses and fees related to the trades, covering about $2.2 million in costs and stating their rules had never changed.
- Democratic Senator Chris Murphy criticized these prediction markets as corrupt and immoral, expressing concerns about ethical issues and possible incentives for violence and insider trading.
5 Articles
5 Articles
Kalshi Owes Bettors $54 Million On Ayatollah Khamenei's Death, But Claims It Doesn't Have To Pay
Bettors had wagered $54 million that Iran’s Ayatollah Ali Khamenei would be "out before April 1, 2026." But as bettors planned to cash out last Saturday following his death due to a joint US-Israel operation, they learned that Kalshi froze the trade. The bettors did not receive their payout.According to The Washington Post, the prediction market tried justifying not paying its winner by saying the site doesn’t allow transactions "directly tied t…
Kalshi refuses to pay winnings on $54M trade related to Khamenei’s death, drawing user fury
Prediction market Kalshi has drawn outrage for refusing to pay out winnings on a $54 million trade related to the death of Iranian Supreme Leader Ayatollah Ali Khamenei.
From Karachi to Beirut, Khamenei’s death sends shockwaves across the Shiite world
BEIRUT (AP) — The killing of Iranian Supreme Leader Ayatollah Ali Khamenei in U.S.-Israeli strikes over the weekend did not just shake Iran. It has reverberated across the Shiite Muslim world, raising the specter of a broader backlash in the Middle East and beyond. For the Muslim world’s Shiite minority, 86-year-old Khamenei was more than just Iran’s theocratic ruler since 1989. He was also one of their most prominent religious and political fig…
Kalshi faces backlash for not paying out $54M related to Iranian supreme leader’s death
The popular prediction-market app Kalshi is refusing to pay approximately $54 million to its users who correctly predicted the death of Iranian Supreme Leader Ayatollah Ali Khamenei.
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