In collaboration with Crypto.com, Coinbase, Underdog, and Robinhood, Kalshi CEO Tarek Mansour announced the launch of the Coalition for Prediction Markets, which is an industry-backed measure to fight for prediction markets amid the growing political and regulatory backlash. Mansour pointed to $150 billion in annual trading volumes, showing the growth of the market among economists,
In collaboration with Crypto.com, Coinbase, Underdog, and Robinhood, Kalshi CEO Tarek Mansour announced the launch of the Coalition for Prediction Markets, which is an industry-backed measure to fight for prediction markets amid the growing political and regulatory backlash.
Mansour pointed to $150 billion in annual trading volumes, showing the growth of the market among economists, policymakers, and journalists.
One of the most central topics of the coalition will be to provide a distinction between prediction markets and gambling products. Mansour argues that these markets operate without a house taking the opposite side of trade, where users are able to trade in an open and competitive manner.
The coalition plans on working alongside policymakers to establish clear federal oversight. It also aims to remove prediction markets from state-level gambling regulations by creating uniform rules that are used for other modern financial markets as well.
The Commodity Futures Trading Commission (CFTC) has also been closely observed by operators, as its latest actions show conditional acceptance of the coalition’s statements.
The CFTC has noted on different occasions that many operators provide their services within regulatory limits, and no enforcement action is to be taken against their core activities. This, in turn, creates a perception of tolerance for those prediction market platforms that are compliant with rules.