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 attract more women to its platform in an effort to grow its user base. As the Wall Street Journal reported on Sunday, the percentage of women using Kalshi has doubled over the past ten months, growing from 13 percent to 26 percent of Kalshi’s total users. According to Kalshi co-founder Luana Lopes Lara, that shift involves “catering to [women’s] interests and expertise in ways that traditional financial markets haven’t.”
Here are some other headlines from the past week in news about Polymarket, Kalshi, and prediction markets: