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The CEO of prediction market Kalshi, Tarek Mansour, has taken to social media to share support for a bill which would ban government officials from using prediction markets.
The bill is in reference to one which could soon be introduced by Ritchie Torres who is a United States Representative, based in New York. The Bill will be called the ‘Public Integrity in Financial Prediction Markets Act of 2026.’ It comes amid growing concerns about insider trading in wartime, sparked after a Polymarket bet on Venezuela’s president, Nicolás Maduro, reportedly paid out around $400,000.

Notable: Kalshi CEO Tarek Mansour says on Linkedin the prediction market company is “supportive” of legislation from Rep. Ritchie Torres (D-NY) to ban government officials from insider trading on platforms like theirs pic.twitter.com/k8T9lykf1a
— Brendan Pedersen (@BrendanPedersen) January 7, 2026

While it hasn’t yet been brought in, or passed the usual stages as it’s at the very beginning of the process, Mansour has made Kalshi’s feelings on the matter known. The LinkedIn post opens with: “Insider trading is banned on Kalshi (and always has been.)
“This should be obvious, but some recent reporting has been conflating regulated prediction markets with unregulated, offshore prediction markets. What non-American, unregulated platforms do has no relationship to what regulated, American platforms do.”
He goes on to speak about alleged cases of insider trading in the industry and says these are about “unregulated, offshore platforms.” He also explains how a regulatory first approach was firmly believed in from day one at Kalshi “because it is the right thing to do.” He says this is why they didn’t launch for years, suggesting they were waiting for US regulatory approval.
What is the bill which could ban government officials from using prediction markets?
The post continues: “Kalshi is supportive of the bill Ritchie Torres is looking to introduce to affirm the ban on insider trading on prediction markets. Why? Because we already implement it. However, it’s important to emphasize that this American bill only applies to regulated, American companies and not to unregulated, non-American companies, which is where the alleged issues are occurring.”
Representative Ritchie Torres has spoken out in an Instagram video about his bill: “…I just felt compelled to introduce legislation that would prohibit insider trading in prediction markets among federal government officials because there’s a risk of not only corrupting the market, but corrupting the government itself.”
Featured Image: Via Rep. Ritchie Torres Instagram
The post Kalshi CEO says they’re supportive of proposal to ban government officials from insider trading appeared first on ReadWrite.

A bomb threat was averted by local police after a gambler threatened to ‘destroy’ a Harrah’s Casino following a $20,000 loss.
On January 5 at around 9.50pm, a call to emergency services threatened a bombing at Harrah’s Casino in Stateline, Nevada. Douglas County Sheriff’s Office deputies were quickly dispatched to the location.
“Yeah, I just lost over $20,000 at your stupid casino, and I am going to destroy it now,” the caller said, according to a report from Douglas County Sheriff’s Office. “I am going to bomb it. This is a bomb threat.”
The caller was identified as Seth Maybee of South Lake Tahoe, with an investigation leading deputies to Maybee’s home in South Lake Tahoe. He was arrested by the South Lake Tahoe Police Department on January 6, just before 2am. He has since been charged with making a bomb threat and making terroristic threats, which could see him charged with a felony. If found guilty, the sentence for those charges could see Maybee receive between two and 15 years, up to $15,000 in fines, and possible restitution of any costs associated with the threat, including the emergency response.
Harrah’s Casino, Stateline, Nevada. Credit: Google Maps
“I want to thank Harrah’s Casino for their quick reporting of this incident and the South Lake Tahoe Police Department for their assistance in the arrest of Maybee,” said Sheriff Dan Coverley from Douglas County Sheriff’s Office. “Due to the history of the Harvey’s bombing in the early 1980s, the Douglas County Sheriff’s Office and Stateline casinos take these threats very seriously. Fortunately, we were able to make an arrest before anything happened.”
Harrah’s Casino bomb threat evoked fears from the past
The 1980’s incident that Coverley referred to in his statement was the Harvey’s Resort Hotel bombing that took place on August 26 and 27, 1980, in Stateline, Nevada. An elaborate bomb was planted in an extortion attempt for $3 million, using one of the most complex improvised explosive devices (IEDs) that the FBI had ever encountered.
It caused an estimated $18 million in damage but thankfully no casualties. The perpetrator was ultimately identified as John Birges Sr, a Hungarian immigrant and a heavy gambler who had lost a significant amount of money at the casino. He was subsequently arrested and sentenced to life withour parole.
A similarly motivated bomb threat also took place in Singapore in September of last year.
Featured image: South Lake Tahoe Police Department
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