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BTCC / BTCC Square / Global Cryptocurrency /
Prediction Markets Face Regulatory Scrutiny Over Iran-Related Contracts

Prediction Markets Face Regulatory Scrutiny Over Iran-Related Contracts

Author:
Global Cryptocurrency
Published:
2026-03-02 08:06:02
9
3
BTCCSquare news:

Prediction market platforms Kalshi and Polymarket are under fire as U.S. senators push to ban death-related contracts following controversial trading tied to the death of Iran's Supreme Leader. Over $529 million traded on Polymarket contracts speculating on U.S.-Israeli strikes, while Kalshi's "Ali Khamenei Out as Supreme Leader?" market saw $50 million volume—$20 million in a single day.

Kalshi CEO Tarek Mansour defended the platform's design on X, stating they avoid contracts "directly tied to death" and implement rules to prevent profiting from fatalities. The controversy highlights growing tensions between decentralized finance innovation and ethical boundaries in prediction markets.

Market settlements drew criticism after Kalshi halted trading at 2:59 PM ET and closed contracts at 10:06 PM ET following Khamenei's death at 1:14 AM ET. The incident has sparked broader discussions about oversight in crypto-based prediction markets.

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