Kalshi CEO Tarek Mansour makes the case for prediction markets as legal fights pile up

Mansour is promoting the wisdom of markets while his company fights a multi-state legal battle over whether some of its contracts are legal at all. Host Carmel Crimmins opened by noting that prediction markets seem to be everywhere these days, with Kalshi in the middle of the action. Mansour's central argument is that prediction markets reward people who actually know things.

Traders who are right make money. Traders who are wrong lose it. Compare that with a cable news panel, where being wrong costs very little.

A pundit can miss an election call and be back on air next week with the same confidence. In the interview, Mansour set prediction markets against traditional polls and commentators.