Kalshi sent a cease-and-desist letter dated May 20 to FairPredicts, alleging the group published and promoted false, misleading, defamatory, and commercially disparaging statements about Kalshi and related businesses at KalshiLies.com. The letter was signed by Kalshi General Counsel Richard Heaslip and attorney Maria Vouterakou. FairPredicts recently launched a Washington advertising campaign aimed at the prediction-market industry, describing itself as a nonpartisan market integrity watchdog focused on regulation, transparency, and consumer protections. One ad asked, “If Kalshi is not the house, why do they win when you lose?” FairPredicts claims an affiliated market-making firm profits when customers lose and functions like “the house.”
"A cease-and-desist letter sent May 20 to the operators of KalshiLies.com claims watchdog group FairPredicts published "false, misleading, defamatory, and commercially disparaging statements" about Kalshi and related businesses. The letter was signed by Kalshi General Counsel Richard Heaslip and attorney Maria Vouterakou."
"Earlier this week, FairPredicts launched a Washington advertising push targeting the prediction-market industry. The nonprofit describes itself as a "nonpartisan market integrity watchdog" focused on regulation, transparency, and consumer protections tied to event-based trading platforms. One ad circulating on transit placements and mobile billboards asked: "If Kalshi is not the house, why do they win when you lose?""
"FairPredicts argues that Kalshi Trading LLC, an affiliated market-making firm, profits when customers lose money and effectively behaves like "the house" inside the exchange. Journalist Miranda Nazzaro reported the campaign involved a six-figure advertising purchase timed to coincide with rising congressional attention on prediction markets."
#prediction-markets #advertising-campaign #cease-and-desist #market-integrity #regulation-and-transparency
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