Kalshi CEO Defends Sports Betting Operations Against State Lawsuits
Kalshi, a prediction market startup, has filed lawsuits against New Jersey and Nevada, arguing that state gaming laws do not apply to its federally regulated platform. CEO Tarek Mansour emphasized their federal licensing during a StrictlyVC event, stating that state regulators are motivated by a casino lobby's dissatisfaction. Recently, Kalshi won a legal victory in Nevada, allowing it to continue operations there. The startup, valued at $787 million, aims to establish itself in the sports betting market, leveraging its unique prediction markets that offer insights into events like political outcomes and sports results.
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