With 16 men's college basketball teams raising their games to advance to this week's Sweet 16, a company that trades in sports contracts has upped its game to protect its customers.
Kalshi announced Monday that the CFTC-regulated exchange and prediction market company has enhanced and strengthened its game for customer protection and integrity. In addition to creating a hub with responsible gambling protocols, Kalshi has partnered with Integrity Compliance 360 (IC360) to improve its standing in regard to integrity.
No important financial innovation has ever been created without critics.
— Tarek Mansour (@mansourtarek_) March 24, 2025
• Credit cards were going to drive “reckless consumer spending”
• Mutual funds were seen merely as a way to speculate and risk people’s savings
• ETFs were feared because they could increase volatility… pic.twitter.com/iUsHcog9SK
IC360 is a leading global technology and consultancy firm specializing in comprehensive integrity and compliance solutions for sports, sports betting, gaming, and iGaming.
"From day one at Kalshi, we have been conscious of our position in building prediction markets and we carry the responsibility of fostering and preserving trust in them. That is why, today, Kalshi is launching our Customer Protection Hub, as the latest example of our commitment to putting customer safety first," said Kalshi founder Tarek Mansour in a tweet earlier today.
"The Hub adds additional layers of safety to our customer protection infrastructure, by enabling new risk managed features like Deposit Caps, Trading Breaks, and Voluntary Opt-outs. These safeguards work in addition to our internal market surveillance team and regulation systems to improve our market integrity."
Kalshi skyrocketed to prominence with last November's Presidential Election and this month offered predictive markets in all 50 states for the NCAA men's basketball tournament.
The company teamed up with trading platform Robinhood to offer sports “contracts” that act like bets across all 50 U.S. states for the first time, through the first two rounds of the tournament, Kalshi’s markets had taken in nearly $195 million by Monday afternoon. Another $12.8 million worth of prediction contracts have been purchased on women’s tournament markets.
"For sports specifically, we are excited to announce our partnership with IC360, whose data will enhance our Customer Protection Hub’s ability to prevent bad actors and report them to the leagues and relevant regulatory bodies," Mansour said. "We hope that our Hub sets a new standard of customer protection for the industry and encourages others to follow suit."
The Sweet 16 will be played Thursday and Friday, with the Elite Eight held on Saturday and Sunday to determine the tournament's Final Four.
The Final Four takes place Saturday, April 5, in San Antonio, Texas, with the national championship game scheduled for Monday, April 7.
