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To improve customer safety, Kalshi has launched a “Consumer Protection Hub,” CEO Tarek Mansour said in an X post. Among the capabilities available on this new platform are “Deposit Caps, Trading Breaks, and Voluntary Opt-outs.” These functionalities will support the platform’s regulatory and “market surveillance team,” Mansour emphasized.
The techniques are similar to those used by authorized sportsbooks, even if the phrase “responsible gambling” was not utilized. Similar solutions, such as time management tools and self-exclusion programs, are provided by numerous large operators to guarantee that users can appropriately regulate their activities.
Kalshi has teamed up with integrity monitor IC360 to manage its sports contracts as part of an additional effort to improve platform monitoring. Mansour clarified that Kalshi’s capacity to identify and stop fraudulent activity would be strengthened by the data from IC360. Any suspicious activity will be reported to the appropriate authorities and sports leagues.
As an integrity monitor for numerous professional and collegiate sports leagues, IC360 is well-known. As part of this collaboration, Kalshi will make use of IC360’s ProhiBet service, an encrypted database that lists those who are prohibited from betting on sports or prediction markets. Real-time surveillance for banned bettors will be made possible by the partnership.
However, a gap remains between legal sports betting regulations and prediction markets. Unlike sportsbooks, Kalshi falls under the oversight of the Commodities Futures Trading Commission (CFTC), which lacks experience in managing sports integrity issues. Despite this, IC360 expressed confidence in the partnership’s potential.
“IC360 strongly believes that integrity in sport can be achieved through innovative technology-driven solutions and collaborative stakeholder engagement. Our partnership with Kalshi is a terrific embodiment of these principles,” said Scott Sadin, co-CEO of IC360, in the official statement.
Kalshi’s dual focus on consumer protection and sports integrity underscores its commitment to maintaining a secure and transparent platform. By leveraging IC360’s expertise, the company aims to uphold fairness while offering a safer trading experience for users.