Ross Gerber Calls Prediction Markets ‘Illegal Betting’, Sparking Regulatory Concerns

Cryptocurrency expert and CEO Ross Gerber is calling prediction markets, like Kalshi, illegal betting, a stance that has sparked legal challenges and raised concerns about market stability. Gerber’s comments come amidst increasing regulatory scrutiny of such platforms in states including Nevada and New Jersey. While Kalshi argues compliance with CFTC regulations, its status as a regulated exchange faces potential legal hurdles and investor uncertainty.