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Kalshi Prediction Market CEO Tarek Mansour took to social media to share his support for a bill that would ban government officials from using prediction markets.
The bill refers to one that could soon be introduced by New York-based U.S. Rep. Ritchie Torres. The bill will be called the “Public Integrity in Financial Forecasting Markets Act, 2026.” It comes amid growing concerns about wartime insider trading, sparked after a Polymarket bets on the president of VenezuelaNicolás Maduro, reportedly paid around $400,000.
Of note: Tarek Mansour, CEO of Kalshi, said on Linkedin that the prediction market company “supports” Rep. Ritchie Torres’ (D-N.Y.) legislation banning government officials from insider trading on platforms like theirs. pic.twitter.com/k8T9lykf1a
– Brendan Pedersen (@BrendanPedersen) January 7, 2026
Although it has not yet been implemented, nor gone through the usual steps since it is only at the very beginning of the process, Mansour made Kalshi’s feelings on the subject known. THE LinkedIn Post opens with: “Insider trading is prohibited in Kalshi (and always has been.)
“This should be obvious, but some recent reports are confusing regulated prediction markets with unregulated offshore prediction markets. What non-US, unregulated platforms do is irrelevant to what regulated US platforms do.”
He goes on to talk about alleged cases of insider trading in the industry and claims these are “unregulated offshore platforms.” He also explains how a regulatory first approach was strongly believed in from day one at Kalshi “because it’s the right thing to do”. He says this is why they didn’t launch their products for years, suggesting they were waiting for US regulatory approval.
What is the bill that could prohibit government officials from using prediction markets?
The post continues: “Kalshi supports the bill that Ritchie Torres is seeking to introduce to affirm the ban on insider trading in prediction markets. Why? Because we already enforce it. However, it is important to emphasize that this US bill only applies to regulated US companies and not to unregulated, non-US companies, where the alleged problems are occurring.”
Representative Ritchie Torres spoke out in an Instagram video about his bill: “…I simply felt compelled to introduce legislation that would prohibit insider trading in prediction markets among federal government officials, because there is a risk of corrupting not only the market, but also the government itself.”
Featured image: via Representative Ritchie Torres Instagram
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