Richard Lawler
Kalshi called a report on bettors’ losses “extortion” before backing off.
A report from Bloomberg lays out how the prediction market reportedly directly contacted Juice Reel CEO Ricky Gold, pressuring him to say the data his firm had provided to an analyst was inaccurate.
The analysis from Jordan Bender, an equity research analyst at Citizens, found that in their first three months, users on sites like Kalshi were losing more money than on established gambling sites like FanDuel and DraftKings, at least in proportion to the amount wagered. This cuts against Kalshi’s claims that it offers a customer-friendly way to bet on real-world events.
