A group touting itself as a “nonpartisan” prediction market watchdog launched an ad campaign targeting Kalshi on Wednesday, calling for greater accountability in how the federally-regulated platform operates.
A Counter To Kalshi’s Ad Campaign?
FairPredicts launched the campaign across Washington, D.C., placing ads at bus stops, on billboards, and in metro stations, in what appears to be a direct response to Kalshi's advertising push in the city last month.
“The message is simple: Kalshi has a lot of explaining to do,” FairPredicts said.
According to its website, FairPredicts tracks how prediction markets are regulated, how they advertise, and whether their actions match their claims.
FairPredicts accused major players such as Kalshi and Polymarket of not playing by the rules governing other financial operators in the U.S.
Kalshi On The Radar
Specifically targeting Kalshi, FairPredicts alleged that the platform indulged in “false advertising.”
Kalshi's core slogan is “We aren’t the house” to emphasize that they act as a federally regulated financial exchange rather than a traditional bookmaker. However, FairPredicts said that a Kalshi affiliate profits on every customer trade.
FairPredicts also targeted Kalshi for claiming to ban insider trading while “simultaneously lobbying Congress for lighter oversight.
FairPredicts' website still offered sketchy details and the platform claimed it would publish primary evidence exposing Kalshi's operations in the coming days.
Notably, Kalshi states on its website that it fully complies with U.S. regulations on insider trading and market manipulation, and that it maintains safeguards stricter than those of traditional stock exchanges.
Kalshi didn’t immediately return Benzinga’s request for comment.
Photo Courtesy: Samuel Boivin on Shutterstock.com
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