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Kalshi CEO Backs Ban on Government Insider Trading on Prediction Markets

Kalshi CEO Backs Ban on Government Insider Trading on Prediction Markets

Kalshi CEO Tarek Mansour backed Rep. Ritchie Torres’ bill to bar officials from trading prediction markets using non-public information, saying Kalshi follows NYSE and Nasdaq-style standards and rejects unregulated offshore platforms.

Fact Check
The evidence from multiple high-authority sources strongly and consistently supports the statement. Several news outlets, including Yahoo Finance and AOL, directly report that Kalshi's CEO, Tarek Mansour, made a public statement on LinkedIn explicitly supporting a congressional bill aimed at banning insider trading on prediction markets. This is the most direct and compelling evidence.This direct evidence is further corroborated by other credible sources. An Axios news brief and a report from Quorum Report both highlight the CEO's statement that Kalshi already has a policy banning insider trading, which demonstrates that his public support for a legislative ban is consistent with his company's existing practices. This internal policy is confirmed by an official blog post from Kalshi itself, which details the measures it takes to prevent such activity, and by a feature article in Bloomberg that notes the company's strict prohibition on all forms of insider trading.There is no conflicting evidence among the provided sources. Several sources were deemed irrelevant as they only discussed specific trading markets on the Kalshi platform or were entirely unrelated, providing no information about the CEO's stance on insider trading. The convergence of direct reporting on the CEO's statement and corroborating evidence about the company's policies provides a high degree of confidence in the truthfulness of the statement.
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Summary

Kalshi CEO Tarek Mansour supported U.S. Rep. Ritchie Torres’ 2026 Public Integrity Financial Prediction Market Act, which would prohibit government officials from trading prediction markets using non-public information. Mansour said Kalshi adheres to regulatory standards comparable to the NYSE and Nasdaq and emphasized that the company distances itself from unregulated offshore platforms. The proposal follows scrutiny of controversial Polymarket bets that reportedly generated $400,000 and comes amid rapid growth in prediction markets, with December 2025 volumes reported at $6.26 billion for Kalshi and $2.28 billion for Polymarket.

Terms & Concepts
  • Prediction market: A platform allowing participants to trade contracts based on the outcome of future events, often used for forecasting.
  • Insider trading: The illegal practice of trading on a public market based on non-public, material information.