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3 Comments
By Taylor Herzlich:
*[…] Kalshi, which surged in popularity by providing the first legal election betting in the US in more than a century, offered so-called event contracts two days after the feds collared Luigi Mangione at a Pennsylvania McDonald’s on Dec. 9.*
*Retail traders were allowed to place bets on whether Mangione would be extradited to New York in the [alleged] Dec. 4 killing, if he would plead guilty to murder, and on whether he acted alone, Bloomberg News reported on Friday.*
*But Kalshi halted trading on Dec, 13, telling customers it had received “notice from our regulator,” according to messages obtained by The Post.*
*Kalshi is regulated by the Commodity Futures Trading Commission, which prohibits events contracts linked to crimes, terrorism and war if the agency deems them against the public interest, Bloomberg reported.*
___
[By Marina Temkin](https://techcrunch.com/2024/10/31/kalshi-secures-tens-of-millions-in-loans-from-vcs-eyes-50m-round-amid-election-betting-boom-source-says/):
*[…] Investors who provided capital to Kalshi so the company could sustain its growth until election day included VC firm Neo, one of its earliest backers. Neo’s founder, Ali Partovi, sent Kalshi a total of $12.4 million, composed of $5.4 million of Neo’s capital and $7 million of Partovi’s personal funds, according to the now-deleted tweet posted by Kalshi’s co-founder and CEO, Tarek Mansour.*
*While it’s extremely rare for investors to send money (much less millions) without terms locked down and a signed contract, Partovi’s message to Mansour said, “We can figure out the terms later.”*
*[…] In addition to Sequoia and Neo, Kalshi’s backers include Y Combinator, Henry Kravis, and Mantis VC, a fund managed. The company raised a total of $106 million in equity capital and was last valued at $787 million, according to PitchBook data.*
Calling it a “cold-blooded murder” is pretty biased writing when the trial is still ongoing and all the facts are not yet public
You can bet on elections but not murder trials if it’s a CEO?
Fascinating state of affairs