Tarek Mansour

Rule Changes

Leading Kalshi's appeals against state gambling bans after losses in the Ninth, Sixth, and 10th circuits

Utah can keep enforcing its ban on sports-style prediction bets while Kalshi appeals. The 10th Circuit refused on September 8 to pause the state's prop betting law, and last week a Sixth Circuit panel rejected the same preemption argument in Ohio and Tennessee.

Updated Sep 29

Money Moves

Leading Kalshi's legal defense against Arizona criminal charges and state injunctions while closing the $1 billion Series F raise

Kalshi closed a $1 billion funding round on May 7 at a $22 billion valuation, led by Coatue Management with Morgan Stanley, Sequoia, Andreessen Horowitz, Paradigm, IVP, and ARK Invest. Annualized trading volume reached $178 billion, up from $52 billion six months earlier, and Kalshi now accounts for more than 90% of U.S. prediction market activity.

Updated May 31