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Kalshi CEO: ‘State law doesn’t really apply’ to us
Prediction market Kalshi is suing the states of New Jersey and Nevada in an effort to continue offering prediction markets for sports matches.
In January, Kalshi made the leap into prediction markets for sporting events, allowing users nationwide to bet on the outcomes of March Madness and the Super Bowl — even in the 11 states where gambling is illegal. Mansour argued onstage that the real motivation behind these cease-and-desist letters was a “massive casino lobby that’s unhappy” about Kalshi’s sports trading contracts. Kalshi seems to be taking full advantage of the ambiguity, allowing users to bet on everything under the sun, from the date Elon Musk leaves DOGE to the winner of the World Series.
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