Comment Text:
A recently refiled federal class‑action lawsuit against Kalshi cites a now‑deleted Reddit comment attributed to co‑founder Tarek Mansour, where he reportedly said, “we also avoid anything that could be interpreted as ‘gaming’ (like sports), as that is illegal under federal law.” The fact that this statement vanished only raises more questions about how Kalshi views — and skirts — legal boundaries.
This fits a broader pattern. A number of users received an email from a Kalshi employee by the name of Nicolas Hull pushing them to submit pro‑Kalshi comments to the CFTC, complete with an AI tool to mass‑generate them. That’s not public participation; it’s astroturfing.
As someone who has traded on Kalshi, I’ve seen firsthand how these markets can harm younger people, especially as Kalshi aggressively targets college‑age users. The platform’s incentives reward compulsive trading, and Kalshi profits directly from that behavior.
The company continues raising money at inflated valuations while acting as though oversight doesn’t apply to them. Their conduct shows why strong, meaningful regulation is necessary. Without it, the risks — financial and psychological — fall entirely on the public.
