Titans on Tomorrow Ep. 5 - Is Kalshi a Casino? Its CEO Makes the Case It's a Market

Titans on Tomorrow Ep. 5 with guest Tarek Mansour Presented by VCX by Fundrise: Visit https://GetVCX.com for more info. 48 hours ago, we sat down with Kalshi CEO and Co-Founder Tarek Mansour to talk about the company's dispute with states over whether their platform is a prediction market subject to federal financial regulation, or dressed up gambling. Unexpectedly, on October 28, 2026, Utah's attorney general filed criminal charges against Kalshi and its co-founders, CEO Tarek Mansour and Luana Lopes Lara. The state brought 13 felony counts and one misdemeanor, alleging the prediction market illegally promoted gambling. Each founder could face up to 75 years in prison. Kalshi calls the case "a crazy overreach" and says Utah is playing politics. We recorded this conversation before the charges were filed, when Utah's fight with Kalshi was still a civil dispute. That makes it the most complete look yet at the argument Mansour will now be making with his own freedom on the line: that Kalshi is a federally regulated exchange, not a casino, and that markets need one set of rules instead of fifty. Mansour grew up in Lebanon, studied math at MIT, and traded at Goldman Sachs and Citadel before co-founding Kalshi, with a valuation reportedly approaching $40 billion. He answers the hard questions directly: • Why prediction markets are more like grain futures than DraftKings • Whether market odds can move elections, not just measure them • Insider trading, the White House teleprompter market, and the George Santos case • What happens to young men losing money on these platforms • The Supreme Court fight between states and the federal government over who gets to regulate Kalshi Is this the smartest information machine ever built, or a casino in every pocket? Watch now and decide. Full disclosure: The Daily Wire has a financial relationship with Kalshi, which has been an ad partner on some of our shows. Honesty is the best policy, with our partners or any business we cover. - - - Today's Sponsors: VCX by Fundrise - This episode is presented by VCX, the public ticker for private tech. VCX gives everyone the opportunity to invest in the next generation of innovation, including companies leading the AI revolution, space exploration, defense tech, and more. Visit https://GetVCX.com to learn more. Cardiff - If you've been in business for at least a year, and are pulling in $20,000 a month in revenue, apply now for up to $500,000 in same day business funding at https://Cardiff.co/ben Real growth. Fast funding. Cardiff—Borrow better. Helix - Find the Helix mattress made for the way you sleep and try it at home with Helix’s new 365-night sleep trial—a full year to make sure it’s right for you. Go to https://helixsleep.com/titans for 20% off storewide during Helix's Fall Sales Event. Incogni - Take back control of your data today. Go to http://incogni.com/Titans and use code TITANS or scan the QR on screen for 60% off annual plans. It’s risk free with their 30-day money-back guarantee. Shopify - Ideas are easy. Build yours at https://Shopify.com/Titans - - - DailyWire: Become a Daily Wire Member and watch all of our content ad-free: https://dailywire.com/subscribe 🇺🇸 Get 3-Months of DailyWire for just $17.76 📜 📲 Download the free Daily Wire app today on iPhone, Android, Roku, Apple TV, Samsung, and more. 📰 Follow me on the Daily Wire app or DailyWire.com to read my daily articles and receive my Friday newsletter. 📘 My book "Lions and Scavengers: The True Story of America (and Her Critics)" is available here: https://dwplus.shop/LionsandScavengers 👕 Get your Ben Shapiro merch here: https://dwplus.shop/BenShapiroMerch - - - Socials: YouTube — https://youtube.com/@BenShapiro Facebook — https://www.facebook.com/officialbenshapiro Instagram — https://www.instagram.com/officialbenshapiro Snapchat — https://www.snapchat.com/officialbenshapiro TikTok — https://www.tiktok.com/@real.benshapiro X — https://twitter.com/benshapiro - - - Privacy Policy: https://www.dailywire.com/privacy Learn more about your ad choices. Visit podcastchoices.com/adchoices