Kalshi CEO Tarek Mansour has accused the gambling industry lobby of driving New York's legal action against his prediction market platform. He warned that shutting down Kalshi would leave many New Yorkers angry.
Mansour's accusation
Mansour claimed the gambling lobby is behind the state's move. He didn't provide evidence or name specific groups. The accusation comes as New York regulators pursue legal steps against Kalshi, which lets users bet on outcomes like elections and economic data.
Warning of backlash
Mansour said that if New York succeeds in taking down Kalshi, there will be many angry New Yorkers. He didn't say how many users are in the state or what they would do. The company hasn't released user numbers for New York.
What's at stake
The legal action could determine the future of prediction markets in New York. Kalshi operates in a space some regulators view as gambling, while the company argues it provides a forecasting tool. Mansour's claim suggests the gambling industry sees Kalshi as a competitor.
New York regulators haven't publicly responded to Mansour's accusation. The legal process is ongoing, and it's unclear when a decision will be made.
