Kalshi joins National Council on Problem Gambling with $2 million pledge

Kalshi will provide $2 million over two years to the National Council on Problem Gambling, as the prediction market operator seeks to frame customer protection in the language of financial trading while state-level scrutiny of the sector continues to grow.

The funding will support the NCPG’s new “Financial Trader Health and Safety Initiative,” which the organization said is intended to improve education and awareness around responsible trading across financial markets.

The initiative will develop practical, evidence-informed, and data-driven resources for these platforms, which are evolving quickly and attracting retail participation.

Kalshi and other prediction market operators, including Polymarket, maintain that they are financial exchanges rather than gambling operators. They argue that their activities fall under federal commodities law rather than state gambling rules, a position increasingly contested by state officials who view prediction markets as a form of gambling operating outside traditional state oversight.

That debate has intensified as prediction markets have expanded across the United States, including in states where conventional gambling has long been restricted or banned. The platforms allow users to trade on outcomes of events ranging from elections and sports to geopolitical developments and award shows.

The growth has coincided with the U.S. sports betting boom that followed widespread legalization from 2018 onward, raising concerns about addiction, risky behavior, and the social impact of products that combine retail participation with event-based outcomes. Kalshi recorded more than $1 billion in trading volume on this year’s Super Bowl Sunday.

“NCPG’s role is not to determine whether a particular product or platform meets a legal definition of gambling,” Cole Wogoman, director of policy and partnerships at the NCPG, said. “Our responsibility is to understand where risky behaviors are emerging and ensure people have access to education, prevention resources, and support so we can help mitigate harm.”

As part of the partnership, the NCPG has created a new membership subcategory for “Financial Services & Trading” firms. Kalshi will join as a “Platinum-level member” and become the first company in the new category. The nonprofit described the move as “a defining commitment to long-term customer safety from the financial sector.”

The NCPG is largely funded by the gambling industry. Its other “Platinum members” include MGM Resorts International, DraftKings, FanDuel, the NBA, MLB, and NFL, placing Kalshi alongside casino operators, betting companies, and major sports leagues within the organization’s membership structure.

Kalshi has repeatedly rejected comparisons with gambling platforms. In February, the company said its platform was different from casinos and sportsbooks and operated like a derivatives market. On Monday, however, the company acknowledged the presence of risk in prediction markets.

Tarek Mansour, Kalshi’s co-founder and CEO, said Monday that the company recognizes that prediction markets, “like any financial trading products, come with risks.”

“As prediction markets continue to evolve, we are deeply committed to setting a new standard for responsible trading by investing in the tools, education, and protections needed to promote healthy participation and customer safety, and hope that over time all trading platforms with notable retail participation follow suit,” he added.

The NCPG said the initiative comes amid wider public discussion about “emerging platforms and consumer protection, behavioral health, and financial well-being.” Wogoman also said engagement with financial trading platforms and prediction markets should not be read as support for any specific company or legal position.

Kalshi made a similar distinction in a social media post on Monday, stating that financial markets differ from casinos and sportsbooks but still carry risk. It added that no financial market with large retail participation is free from risk.