Kalshi chief executive Tarek Mansour said he is looking for new ways to protect consumers who lose money on the prediction markets platform, according to a Bloomberg report published Wednesday, Oct. 28. In an interview with Emily Chang on Bloomberg's The Circuit, Mansour said, "Irresponsible users is a real worry for any of these types of products."
The comments come against research showing that most Kalshi customers lose money. Mansour said speculators do not do well with many retail products, such as options and futures, according to the report. He said the losses are not stopping the company from discussing additional safeguards with regulators. "Our message is not, 'Hey, there's nothing to see here,'" he said. "Let's regulate it, let's figure out the right guardrails and where there are gaps."
Prediction platforms have faced criticism for exposing sports and election wagers to vulnerable users, younger people and recovering gambling addicts. Kalshi is available to nearly anyone over 18 in the United States, aside from a few states where it has halted service. Online sportsbooks are generally limited to people 21 and older, according to the report.
The available reporting does not name the regulators involved in the talks or describe any specific safeguard Kalshi is proposing, and it does not say when any changes might take effect.
This dispatch is based on a public report by PYMNTS. We label it reported; a report is not an independent confirmation.
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