Kalshi founder: "Arizona criminal complaint is a clear overreach…we will continue operating"
Summary
- The prediction-market platform Kalshi said it viewed the U.S. state of Arizona’s criminal complaint as a complete overreach.
- Kalshi founder Tarek Mansour said it was an attack on a platform overseen by the CFTC, stressing that even if the court fight escalates, the company will continue operating and respond.
- The CFTC chairman framed the matter as a jurisdictional dispute, saying the agency is closely monitoring the situation and reviewing various response options.
Forecast Trend Report by Period
Prediction-market platform Kalshi has strongly pushed back against a criminal complaint filed by the U.S. state of Arizona.
According to cryptocurrency-focused media outlet CoinDesk on the 18th (local time), Kalshi founder Tarek Mansour criticized Arizona’s action as “a complete overreach.”
He stressed, “This is not a typical gambling crackdown, but an attack on a platform overseen by the Commodity Futures Trading Commission (CFTC),” adding, “Even if the court fight escalates, we will keep operating and respond accordingly.”
Meanwhile, regarding the matter, CFTC Chairman Michael Selig characterized it as a jurisdictional dispute, saying, “We are closely monitoring the situation and reviewing various response options.”
The incident is expected to broaden into a debate over the boundary between prediction markets and gambling, as well as clashes over regulatory authority between federal and state governments.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
