Tribal leader brands Kalshi CEO Mansour a ‘terrible liar’

Tribal gaming leader Victor Rocha says talks with Kalshi CEO Tarek Mansour broke down before a trio of lawsuits followed.

The hit

Kalshi’s relationship with Native American casinos has curdled into a legal fight that threatens its $4bn business, the New York Post reports. Talks between CEO Tarek Mansour & tribal gaming leaders broke down & tribes have since filed a trio of lawsuits arguing Kalshi’s event contracts are unauthorised sports gambling under federal Indian gaming law.

Why it matters

Kalshi calls its wagers financial instruments, but a Ninth Circuit ruling against the company earlier this month has set up a Supreme Court showdown that could redefine what prediction markets are allowed to offer. Sports-style betting reportedly makes up as much as 70% of Kalshi’s revenue, so a loss would hit the core of its business model, not a side line. Pechanga tribal leader Victor Rocha called Mansour a “nice guy, but a terrible liar.” Indian Gaming Association executive director Jason Giles said of Kalshi: “We realized, ‘Oh my gosh, these guys are a huge scam.'”

The record

Kalshi revenue	$4bn estimated over 12 months to July (source close to the company)
Tribal gaming revenue	$46bn taken in last year, up 5.3% (Indian Gaming Commission)
First contact	March 2025 video call between Mansour & Pechanga tribal leader Victor Rocha

What happens next

Watch for Kalshi’s expected appeal to the US Supreme Court, plus the outcome of the tribes’ other pending lawsuits.

Sources: Inside Kalshi CEO Tarek Mansour’s testy relationship with Indian casinos

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