Kalshi CEO Defends Market Design, Announces Full Reimbursements Amidst Backlash

The CEO of Kalshi, a prominent prediction market platform, has publicly defended its 'Khamenei market' design following widespread criticism and user backlash. In an effort to resolve the controversy and address affected users, the platform has committed to a comprehensive reimbursement and refund policy. Specifically, Kalshi will be reimbursing all fees associated with the market, settling pre-death positions at their last-traded price, and providing full refunds for any positions opened post-death. This decisive action underscores the platform's response to user sentiment and its operational approach to market controversies.