Pricing the Future (with Kalshi CEO)

In this episode of the web3 with a16z crypto podcast, Robert Hackett interviews Tarek Mansour, co-founder and CEO of Kalshi, a prediction market that allows trading on real-world events. Tarek discusses the misconception of prediction markets being gambling, emphasizing their utility in pricing the future and providing insights into events like elections and economic trends. He also shares Kalshi's plans to integrate crypto for faster and cheaper transactions, as well as greater transparency. Tarek highlights the importance of regulatory compliance, drawing contrasts with companies like FTX, and explains how Kalshi designs its markets to prevent manipulation and ensure fair trading. He also touches on the catalyst role elections play in driving growth and liquidity for prediction markets, and shares his revised understanding of policy and the long-term benefits of regulatory adherence.