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Regulatory delays complicated Kalshi’s election-market plans

Tarek Mansour recounts repeated delays while Kalshi sought approval for an election market, despite explaining its position to the regulator.

Tarek Mansour·Publié

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Kalshi’s Tarek Mansour vs. the Federal Government

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Started talking to government saying we want to do this, it’s very important, here’s why it’s gonna work, it’s gonna be the most accurate gauge, and here’s how it’s legal—which it is.
Contexte

And we started engaging about the election market before we even launched to the general public in the end of ‘21. And they’re like, okay, fine, we’ll work with you, you know, whatever. Month after month they wouldn’t give it to us, they wouldn’t give it to us. I had bet all the company on the election market for ‘22, the ‘22 midterms. That was what we were aiming towards. The board is ready for it, et cetera. And they keep delaying, delaying, delaying up until they pushed it after the midterms. So they pocket vetoed it. They didn’t say no, they just managed to politely delay us enough that it didn’t happen. So that was heartbreaking. You know, it’s been like—so we started in 2018, we finally got to 2021, finally excited about launching.

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