Polymarket CEO and Kalshi founder spar over insults as New York sues Kalshi for illegal gambling
Shayne Coplan of Polymarket and Tarek Mansour of Kalshi are engaged in a feud that includes personal insults and unverified rumors about Mansour’s former associate. The dispute intensified after Kalshi announced Donald Trump Jr. as a strategic advisor. Separately, New York Attorney General Letitia James filed a lawsuit accusing Kalshi of operating an illegal gambling operation that targets state residents and allows participants under age 21, seeking an injunction, restitution, forfeiture and fines.
Kalshi argues that federal courts have recognized it as a regulated futures market and warns that shutting down its New York operations would push users offshore. The case could decide whether states can regulate popular prediction‑market platforms.
How this was covered
- Left-leaning outlets covered this 4h later
Why it matters
The lawsuit could set a precedent for state authority over prediction‑market exchanges and shape how these platforms operate.
How this story developed
- Jul 31 Polymarket chief clashes with Kalshi rival over personal insults and Trump Jr. ties
- Aug 6 New York Attorney General Letitia James filed a lawsuit alleging Kalshi runs an illegal gambling operation.
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