Kalshi co-founder Luana Lopes Lara explains why listing election contracts was worth the legal battle against the CFTC.
Assertion Not checkable as stated
Lopes Lara: Over 95% of Kalshi maker orders come from peer-to-peer traders
“Over 95 are just like. Peer-to-peer, like, or funds that have like two people that just got stuck.”
Disclosure
Lopes Lara: Kalshi never limits winning traders
“To be clear, we don't limit any winners.”
Prediction Not checkable as stated
Lopes Lara: Prediction markets will improve polling accuracy, not destroy it
“My take is that polls are just going to get a lot better, because what people are going to be is like, okay, I can make money if my polls are right, so I'm just going to commission this poll, and I'm going to do this, And now you can actually, like, compete a …”
Disclosure
Lopes Lara: Kalshi will never list war, terrorism, or assassination markets
“There are a lot of things that we wouldn't do, like wildfires we don't do, war, terrorism, assassination. Those things are bad, and like, there's a moral side of these markets, and we're not going to ever go there.”
Insight
Lopes Lara: Fintech and healthcare startups cannot operate by asking forgiveness
“I think that the approach we took from the start was that financial services or healthcare, I think you can't ask for forgiveness. I think there's a big difference between losing people's money, see what goes wrong, like an FTX example that can go very wrong w…”
Assertion Supported
Lopes Lara: CFTC blocked Kalshi election markets for two years
“Not, well, the biggest they said no to was the elections. That's why we had to end up suing them. They said no for two years.”