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Kalshi sued over ouster of Iran leader prediction market | Honolulu Star-Advertiser
Plaintiffs allege Kalshi delayed payout on $54 million in bets about Iran's Supreme Leader leaving office, citing death carveout invoked only after his death, per lawsuit.
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6 Articles
Prediction market platforms face scrutiny over Iran war bets
Read: 2 min The fast-growing online prediction market industry is under scrutiny over its response to the Middle East war, with one leading platform facing litigation on a disputed payout connected to Iran’s late leader. At issue in the lawsuit is a refusal by online prediction market Kalshi to grant winnings to customers after the U.S.-Israeli siege killed Ayatollah Ali Khamenei. The company has said its policy is to not list markets directly t…
Everything from the last week of everything is gambling now
Kalshi is facing backlash from its own users after a class action lawsuit was filed last week alleging it failed to pay out as promised for wagers regarding when Iranian Supreme Leader Ayatollah Ali Khamenei would leave or be removed from office. Khamenei was killed in strikes on Iran last month, but according to the lawsuit, Kalshi didn't implement a "death carveout" until after Khamenei had died. Meanwhile, Kalshi is reportedly working to att…
Kalshi sued over ouster of Iran leader prediction market | Honolulu Star-Advertiser
WASHINGTON >> The Kalshi prediction market was sued for failing to pay $54 million to people who bet that Iranian Supreme Leader Ayatollah Ali Khamenei would leave office before March 1, according to a class-action lawsuit filed on Thursday.
Kalshi is one of the websites where you can bet on the occurrence of events. However, because you are not supposed to benefit from death, there is a fight.
After Ali Khamenei's death, Kalshi explained that this possibility was an exception to one of his predictive markets. This did not please a part of the users, who chose to file a complaint to denounce "misleading practices." The article Betters complain against Kalshi: the conditions of Ali Khamenei's departure from power excluded his death appeared first on Cryptoast.
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