Kalshi Founder Outlines Next Steps for 'Iran Leader Ousted By' Market

Tarek Mansour, co-founder of prediction market Kalshi, said the platform voided some positions opened after the death of Iran’s Supreme Leader Ayatollah Ali Khamenei was confirmed. "We don’t list markets directly tied to death. When there are markets where potential outcomes involve death, we design the rules to prevent people from profiting from death.

That is what we did here," Mansour wrote on X. Kalshi is reimbursing all fees from the "Ali Khamenei out as Supreme Leader" market and will pay traders who held positions before Khamenei died according to the last-traded price before his death. Users who opened positions after the death were reimbursed the difference between the higher price paid for entry and the last traded price.

The firm says its ban on "death markets" is clear and long-standing and that the death carveout was spelled out in the market rules. Still, the decision prompted backlash online from users who accused the platform of curtailing profits.

Iran

kalshi, tarek mansour, prediction market, ali khamenei, supreme leader, death markets, market rules, reimbursement, last traded, backlash