Prediction market Kalshi to give $2m to problem gambling group as it fights ‘gambling’ label
Kalshi, a prediction market, is donating $2 million to the National Council on Problem Gambling to promote trader safety while it disputes being classified as gambling.Summary
The prediction market Kalshi has announced a $2 million, two-year investment in the National Council on Problem Gambling (NCPG) to support a strategic initiative focused on trader health and safety. This move comes as Kalshi and the broader prediction market industry continue to fight against being regulated as gambling, arguing that their platforms operate like financial derivatives markets rather than casinos or sportsbooks. The NCPG, which is funded by the gambling industry, has created a new membership subcategory for "Financial Services & Trading" firms, with Kalshi joining as a Platinum-level member. The partnership aims to expand education and awareness of responsible trading through practical resources, addressing concerns about addiction and societal impacts as prediction markets surge in popularity and trade volume, such as the over $1 billion traded on Kalshi during this year's Super Bowl Sunday. Kalshi's CEO, Tarek Mansour, emphasized that while prediction markets are fundamentally different from casinos, they still carry risks, and the company is committed to setting a new standard for responsible trading.
(Source：The Guardian)