Kalshi co-founder and CEO Tarek Mansour told Semafor the prediction-markets platform will roll out a “portal for parents” and introduce AI-backed selfie verification to curb underage access. The portal will let parents submit identification to verify whether a child is using their account, while selfie checks are intended to flag instances where an account holder’s appearance does not match the parent’s claimed identity.
The features are a direct response to incidents in which minors—US users must be at least 18—used parents’ IDs to gain access. Mansour described the measures as additional safeguards to enforce age limits and prevent misuse of parental credentials.
Kalshi’s announcement arrives amid rising regulatory scrutiny of prediction markets. State gaming regulators have questioned event contracts tied to sports, and federal authorities have focused on controversial markets such as wagers linked to military actions. Meanwhile, crypto firms are expanding into prediction markets, posing competitive pressure: Binance has integrated prediction markets into its wallet app, and Crypto.com partnered with High Roller Technologies to add similar offerings.
A central element of Kalshi’s legal approach is arguing that its contracts fall under the exclusive oversight of the federal commodities regulator, the US Commodity Futures Trading Commission (CFTC). CFTC Chair Michael Selig has signaled support for that federal jurisdiction in an amicus brief backing Crypto.com in its dispute with the Nevada Gaming Control Board.
Court battles over state enforcement continue. A federal judge in Arizona recently barred state officials from applying gambling laws to Kalshi’s event contracts. That ruling followed a New Jersey federal appellate decision that sided with Kalshi’s position that the Commodity Exchange Act, administered by the CFTC, preempts state sports-gambling statutes. Numerous related cases remain active at the state level.
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