The CEO of prediction market Kalshi, Tarek Mansour, has taken to social media to share support for a bill which would ban government officials from using prediction markets.
The bill is in reference to one which could soon be introduced by Ritchie Torres who is a United States Representative, based in New York. The Bill will be called the ‘Public Integrity in Financial Prediction Markets Act of 2026.’ It comes amid growing concerns about insider trading in wartime, sparked after a Polymarket bet on Venezuela’s president, Nicolás Maduro, reportedly paid out around $400,000.
Notable: Kalshi CEO Tarek Mansour says on Linkedin the prediction market company is “supportive” of legislation from Rep. Ritchie Torres (D-NY) to ban government officials from insider trading on platforms like theirs pic.twitter.com/k8T9lykf1a
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While it hasn’t yet been brought in, or passed the usual stages as it’s at the very beginning of the process, Mansour has made Kalshi’s feelings on the matter known. The LinkedIn post opens with: “Insider trading is banned on Kalshi (and always has been.)
“This should be obvious, but some recent reporting has been conflating regulated prediction markets with unregulated, offshore prediction markets. What non-American, unregulated platforms do has no relationship to what regulated, American platforms do.”
He goes on to speak about alleged cases of insider trading in the industry and says these are about “unregulated, offshore platforms.” He also explains how a regulatory first approach was firmly believed in from day one at Kalshi “because it is the right thing to do.” He says this is why they didn’t launch for years, suggesting they were waiting for US regulatory approval.
What is the bill which could ban government officials from using prediction markets?
continues: “Kalshi is supportive of the bill Ritchie Torres is looking to introduce to affirm the ban on insider trading on prediction markets. Why? Because we already implement it. However, it’s important to emphasize that this American bill only applies to regulated, American companies and not to unregulated, non-American companies, which is where the alleged issues are occurring.”
Representative Ritchie Torres has spoken out in an Instagram video about his bill: “…I just felt compelled to introduce legislation that would prohibit insider trading in prediction markets among federal government officials because there’s a risk of not only corrupting the market, but corrupting the government itself.”
Featured Image: Via Rep. Ritchie Torres Instagram
Kalshi CEO says they’re supportive of proposal to ban government officials from insider trading ReadWrite.
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