Bloomberg Talks Kalshi CEO Tarek Mansour Talks Arizona Criminal Charges
Mar 18, 2026
Tarek Mansour, co-founder and CEO of Kalshi, a prediction market exchange, explains why Arizona’s criminal charges threaten prediction markets and argues federal regulators should have jurisdiction. He discusses legal strategy, potential state bans, and how Kalshi will keep operating while fighting what he calls government overreach. Topics include preemption, scope of charges, and whether prediction trading is gambling.
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Arizona Charges Seen As Political Overreach
- Kalshi views Arizona's criminal charges as a politically motivated overreach that subverts federal adjudication.
- Tarek Mansour says Kalshi filed in federal court on CFTC jurisdiction five days earlier and expected the judicial process to decide merits.
Charges Threaten Broader Financial Markets
- Mansour argues the charges attack prediction markets broadly and risk inviting identical claims against major exchanges.
- He warns the same logic could be applied to CME or NASDAQ, undermining federal exchange regulation.
CEO Denies 'War Markets' Claim And Notes Arizona Users
- Mansour disputes specific allegations in the charging document, saying claims like 'war markets' are false or misinformed.
- He highlights Kalshi's customer base including nearly 400,000 users in Arizona as part of his response.