Tarek Mansour, co-founder of forecasting marketplace Kalshi, provided an update after confirming the platform’s decision to revoke some positions opened after the death of Iran’s supreme leader, Ayatollah Ali Khamenei.
“We don’t list markets that are directly related to death. If there are markets that have a potential impact on death, we develop rules to prevent people from profiting from death. That’s what we did here” Mansour he said in the post on X.
Iranian state media reported death on Sunday morning, after an attack carried out the day before by Israel and the United States.
Kalshi will refund all fees from the “Ali Khamenei withdrawn as Supreme Leader” market and will pay investors with positions open before Khamenei’s death at “the price of the last trade before his death,” Mansour said.
Additionally, users who opened positions after Khamenei’s death were refunded the difference between the higher price paid for entry and the price of the last transaction.
A Kalshi spokesperson told Cointelegraph that the platform’s policy on not allowing “death markets” is clear and long-term.
Platform he repeated rules on Saturday, and Mansour said the death penalty provisions were clearly spelled out in the market’s rules. However, this decision sparked a backlash from online users who accused the platform of limiting users’ profits.
Related: Kalshi bans US politician over alleged insider trading violations
Suspicions of insider trading on forecasting market platforms are growing amid geopolitical tensions
In February, six traders on the competitive forecast market Polymarket made about $1 million betting that the United States would launch an attack on Iran before the end of the month.
According to all six portfolios, the portfolios were created in February and were mainly betting on markets related to the attack on Iran, with some positions placed hours before the first explosions were heard over the Iranian capital, Tehran. Bloomberg.
The trading patterns have raised suspicions of insider trading among onchain researchers and analysts.
In January, US President Donald Trump announced that the person who disclosed information related to the raid and capture of former Venezuelan President Nicolás Maduro has been arrested by US law enforcement authorities.
There was a frenzy in the comments speculation from the Lookonchain analytics platform referenced by the leaker Trump could have been linked to winning Polymarket bets placed shortly before the US airstrike on Caracas.
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