Khamenei | Crypto

The plaintiffs characterized the death carveout in a prediction market for the former Iranian Supreme Leader's ouster as "deceptive." A class action lawsuit has been filed against prediction market Kalshi, alleging that the death carveout in the “Ali Khamenei out as Supreme Leader” market was not properly disclosed to users and that the platform failed to pay out winning trades. The plaintiffs said that the death carveout policy was “not incorporated into the user-facing rules summary,” and was not displayed in a way that would notify a “reasonable consumer” of the policy or its effects. “Defendants, themselves, later acknowledged that their prior disclosures were ‘grammatically ambiguous,’” the lawsuit filing said. Read more

The prediction platform said it would reimburse users and resolve markets to the last-traded price before the death of the Iranian leader was confirmed. Tarek Mansour, the co-founder of prediction market Kalshi, provided an update, following the platform’s decision to void some positions that were opened after the death of Iran’s Supreme Leader Ayatollah Ali Khamenei was confirmed. “We don’t list markets directly tied to death. When there are markets where potential outcomes involve death, we design the rules to prevent people from profiting from death. That is what we did here,” Mansour said in a post on X. Iranian state media reported the death early Sunday, after an attack launched by Israel and the United States a day earlier. Read more