Kalshi CEO says that “regulatory uncertainty” pushes innovation to offshore
While a spouse with the dry and the CFTC, the CEO of Kalshi, Tarek Mansour, explained how regulatory uncertainty pushes innovation abroad.
The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) held a joint round table on September 30 to examine how their regulatory efforts could work better together. The CEO of Kalshi, Tarek Mansour, participated in the second round table of the day, composed of the CEO of the market, taking advantage of the opportunity to note how regulatory uncertainty makes it difficult to work.
“As a business that really focuses on a regulatory approach first, it was historically difficult to operate in areas of uncertainty,” he said. “Often, what is happening is that if you go to agencies, we get long answers and agencies are often disagreeing.
“What American companies remain is to wait for regulatory clarity, where part of innovation is pushed off, which is not ideal for America. We hope that this type of harmonization effort unravels some of these disagreements and the rules or interpretation of the rules. ”
Innovation requires faster regulatory approval
Mansour has continued to emphasize that the dry regulation comes down to a long approval process, which often takes 240 days for many products. He described the process as “very expensive” in an industry that is often based on rapid adaptation to market demands.
“Free markets are a good thing,” continued Mansour. “I think we all agree on this. The free markets are great. They are a powerful engine of economic prosperity in America.
“Today, you really look like a new era. We have the impression that we can finally work constructively with regulators, but also the rest of the industry to really understand how to extend the financial markets and integrate all these technologies which arise while guaranteeing sensible regulations, customer protection and integrity of the market. ”
Kalshi has worked closely with regulators to bring out new products as the company is developing, recently reaching $ 1 billion in monthly transactions volumes.
Star image: Kalshi
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