Kalshi CEO Pitches Insider Trading Rules as Democrats Weigh Their Own

Kalshi CEO Tarek Mansour said he supports banning insider trading by members of Congress and administration officials. His comments came as Democrats won both chambers of Congress this week and some in the party seek an outright ban on election contracts. Kalshi, regulated by the Commodity Futures Trading Commission, offers contracts that pay $1 if an event occurs; it carried about $1.3 billion in midterm wagers by Monday. The Senate barred its own members and staff in April, and Senator Jeff Merkley and Representative Jamie Raskin introduced the STOP Corrupt Bets Act, which would ban event contracts on elections, sports, military actions and most government actions. Mansour said Kalshi has policed insider trading since its 2018 founding.