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Kalshi faces a lawsuit over delayed payouts, aims to attract more female users, and competes with Polymarket amid a surge in prediction market activity.Summary
Kalshi, a prediction market platform, is currently embroiled in a class action lawsuit alleging failure to promptly pay out wagers on the death of Iranian Supreme Leader Ayatollah Ali Khamenei. The lawsuit claims Kalshi didn't implement a 'death carveout' until after his death. Simultaneously, Kalshi is actively trying to increase its female user base, which has doubled in the last ten months, by focusing on interests not traditionally catered to by financial markets. Competition with Polymarket is intensifying, even reaching the level of the CEOs, with both companies vying for the title of 'world’s largest prediction market' and launching contracts on the S&P 500. The broader trend shows increasing interest in prediction markets, with DraftKings planning a super app to compete and Churchill Downs Incorporated attempting to restrict wagers on horse races through the Interstate Horseracing Act.
(Source：The Verge)