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Al Jazeera
Al Jazeera
Business
Andy Hirschfeld

Some companies want to bet on US elections. Not everyone agrees.

Kalshi United States CFTC PredictIt Tarek Mansour Tom Moore Al Jazeera George Santos Polymarket Smarkets
Critics of election betting say it can 'delegitimize' the voting process and encourage 'tampering' [Allison Joyce/Getty Images]

Tarek Mansour spent several years working in finance at firms like Goldman Sachs and Citadel before launching the groundbreaking fintech startup Kalshi. Using his background in finance, he built the first regulated exchange, running what are called “event contracts” or ways to trade on current affairs like national elections.

With the upcoming 2024 United States presidential election, increasingly razor-thin Republican control in the House of Representatives and the contentious GOP primaries, Kalshi and platforms like it – including PredictIt, Polymarket and Smarkets – are in the spotlight for allowing financial bets that critics worry could sway voters.

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