""We're essentially proactively doing that before we're required to do them because we think a lot of these measures are the right thing to do," Mansour says."
""The goal for Kalshi here is we want to set a ... new state-of-the-art benchmark when it comes to customer protection.""
""The harms of sports gambling are disproportionately concentrated among younger men, and so the prediction markets are clearly the new frontier in this conversation about sports gambling," Jonathan Cohen, policy lead at the American Institute for Boys and Men, said in a recent interview."
"Mansour has repeatedly argued that prediction market trading should not be treated as gambling, in part because users are engaging in peer-to-peer trades and not betting against the house."
Kalshi is enhancing its platform to prevent underage trading by implementing facial recognition technology, requiring selfies from high-risk users, promoting two-factor authentication, and introducing a tool to monitor account logins. CEO Tarek Mansour emphasizes the proactive nature of these measures, aiming to establish a benchmark for customer protection. Concerns about young people engaging in harmful gambling behaviors have prompted these actions, especially as studies indicate a significant percentage of boys aged 11 to 17 have gambled recently. Lawmakers are also pushing for consumer protection regulations in prediction markets.
Read at Axios
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