Kalshi CEO fires back against Arizona criminal charges as ‘total overstep‘

The prediction markets co-founder said that the company would “abide by court decisions“ but signaled that the charges were based partly on political bias and media attention.

Tarek Mansour, co-founder and CEO of prediction markets platform Kalshi, has pushed back against criminal charges filed by Arizona authorities this week, claiming that they were a "total overstep" and "not about gambling.”

On Tuesday, Arizona Attorney General Kris Mayes announced charges against the companies behind Kalshi, alleging that the company operated an “illegal gambling business in Arizona without a license” and offered illegal election wagering. Mansour said in a Wednesday Bloomberg interview that Mayes was attempting to “subvert the judicial process” by filing charges without a court decision in Kalshi’s own lawsuit against Arizona authorities last week. 

“We see this as a total overstep and we look forward to fighting it in court,” said Mansour.

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