Mansoor: Kalshi's federal regulation allows sports trading across all 50 states
Tarek Mansoor · How Kalshi Built a $2 Billion Prediction Market · Sourcery with Molly O'Shea · Feb 28, 2025 · at 17:26
Tarek Mansoor, co-founder and CEO of Kalshi, explains how operating as a federally regulated CFTC exchange enables Kalshi to offer sports contracts nationwide without state-by-state gambling licenses.
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“It's the first time that sports, like, trading on sports is actually legal in all 50 states. Because we are regulated by the, you know, by the feds, like, at the federal level, not state by state. And the federal regulation, like, the law actually supersedes state law. So anything that you do on CalShe, on an exchange, like state law doesn't actually quite apply.”
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“The difference is actually about whether the underlying thing, like the thing that you're actually engaging in, has actually some sort of economic, social, cultural relevance outside of the act of placing the trade, right? Like, and so, so it's like, is it art…”