Kalshi CEO Tarek Mansour publicly expressed his support for a high-profile new bill introduced by Democratic Rep. Ritchie Torres (D-N.Y.) aimed at banning insider trading on prediction market platforms, particularly by government officials with access to nonpublic information.
Regarding this announcement, reports noted that the CEO shared a post on LinkedIn on Wednesday, January 7, asserting that, “Kalshi backs the bill that Ritchie Torres plans to introduce to reinforce the ban on insider trading in prediction markets.”
This situation prompted reports to reach out to the industry executive for clarification on this decision. Responding to this request for comment, Mansour declared that the American web-based prediction betting platform supports Torres’ new bill because they already effected this regulation.
Torres cites Polymarket bet as the bill targets insider trading risks
The US Representative’s new bill was submitted earlier this month. This regulation prohibits federal elected officials, political appointees, and executive branch employees from participating in bets related to government policy, government action, or political outcomes on prediction market platforms.
Torres made this suggestion after reports revealed a scenario in which an anonymous user placed a bet that the president of Venezuela, Nicolás Maduro, would be demoted from his position by the end of January on the world’s largest prediction market, Polymarket.
After the bet was placed, reports said US authorities captured Maduro and his wife, Cilia Flores, with prosecutors alleging the pair was involved in a cocaine-trafficking conspiracy. They had ties to cartels designated as terrorist organizations.
As a result, the user collected a total of around $400,000. This incident raised concerns, as the government illustrated a likelihood that some insiders have direct access to confidential information.
Meanwhile, to illustrate Mansour’s strong commitment to fostering change on prediction market platforms, the industry executive noted in his LinkedIn message his intention to reduce Kalshi’s connections with other prediction market platforms involved in insider trading cases. However, the CEO did not unveil the names of these prediction market platforms.
Concerning the news about firms facing insider trading accusations, Mansour argued that there is a possibility that some recently released announcements from reports have confused unregulated and regulated prediction markets that operate outside the United States. “What non-American, unregulated platforms do has no connection to what regulated American platforms do,” he said.
When asked to outline the strategy Kalshi applies to its operation, Mansour began by stating that Kalshi is a federally regulated platform. Afterwards, he highlighted that the prediction market platform strictly adheres to the same insider trading regulations as the New York Stock Exchange and Nasdaq, which restrict users from conducting trades when they are suspected of having access to confidential information regarding a market.
Kalshi solidifies its position as the leading prediction market
Mansour declared that Torres’ new bill only impacts US-based firms that are regulated, not those that are unregulated and situated outside the US. According to him, these unregulated companies located outside the US encounter significant challenges.
In the meantime, data from a reliable source highlighted that key prediction market platforms, Kalshi and Polymarket, recorded new highs as of December 2025. Kalshi reached a peak of $6.26 billion, while Polymarket achieved a new record of $2.28 billion.
Following these results, analysts conducted research and discovered that Kalshi solidified its position as the largest prediction market exchange in terms of volume, surpassing Polymarket since March 2025.
Apart from Kalshi and Polymarket, other notable players in crypto and sports betting include Crypto.com, Gemini, and DraftKings. Notably, these firms have also expanded their presence in the prediction markets sector.
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Source: https://www.cryptopolitan.com/kalshi-ceo-publicly-backs-torres-bill/
