Source: New York Post
Kalshi’s dicey relationship with Native American casinos went south after CEO Tarek Mansour held unsuccessful talks to mend differences with tribal leaders – resulting in a flurry of lawsuits that could pose existential threat to the prediction market giant’s business, The Post has learned. Kalshi offers wagers across a slew of real-world events – from the Oscars to the weather in France to the prices at Costco – betting on sports events accounts for as much as 70% of an estimated $4 billion in revenue during the 12 months ended this July, according to a source close to the company. While Kalshi says its wagers are financial instruments that it calls “event contracts” and “swaps,” the tribes have sued to stop them, countering that they amount to unauthorized sports gambling under federal Indian gaming laws.
