Kalshi Joins National Council on Problem Gambling Despite Denying It’s a Gambling Platform

Kalshi, the leading prediction market platform, has announced its partnership with the National Council on Problem Gambling (NCPG), despite its insistence that it is not a gambling operator but rather a financial trading platform. The move comes as Kalshi faces ongoing scrutiny over its sports trading markets, which critics argue are functionally indistinguishable from sports betting.

To accommodate Kalshi‘s stance, the NCPG created a new Financial Services & Trading Subcategory for its membership. This decision underscores the evolving nature of financial trading products and the growing participation of retail traders in markets beyond traditional gambling.

“At Kalshi, we believe in the power of prediction markets, and we are sensitive to the fact that they, like any financial trading products, come with risks. As prediction markets continue to evolve, we are deeply committed to setting a new standard for responsible trading by investing in the tools, education, and protections needed to promote healthy participation and customer safety and hope that over time all trading platforms with significant retail participation follow suit,” said Tarek Mansour, co-founder and CEO of Kalshi.

Heather Maurer, Executive Director of the NCPG, echoed the importance of balancing innovation with responsibility: “NCPG’s goal has always been to mitigate harm by increasing education, awareness, and understanding of risky behaviors, while ensuring access to trusted, scientific, and evidence-based information and healthcare resources. Innovation and responsibility can and must evolve together. Kalshi‘s engagement demonstrates a commitment to mitigating harm before it occurs and ensuring support resources are accessible when they are needed.”

The partnership includes a $2 million investment from Kalshi over two years to fund the Financial Trader Health and Safety Initiative. This initiative aims to expand education and awareness of responsible trading across various markets, including prediction markets, cryptocurrencies, and leveraged commodities. The NCPG press release notably avoided addressing the controversy surrounding Kalshi‘s sports trading markets, instead grouping them under the broader category of “other products.”

This collaboration comes less than three months after the NCPG expressed concerns about prediction markets, stating they pose “similar levels of risk to the consumer as traditional sports betting.” The organization had previously called on prediction markets to include the 1-800-MY-REST National Problem Gambling Helpline on their platforms—a request Kalshi has not yet fulfilled.

As a Platinum Corporation Member of the NCPG, Kalshi will also pay annual dues ranging from $8,000 to $15,000. Current members include major industry players such as Bally’s, BetMGM, Caesars Entertainment, DraftKings, FanDuel, and MGM Resorts.