Kalshi wins CFTC approval to become the first regulated exchange for trading Event Contracts

Hi Neo family,

After 18 months of sweat and struggle, Kalshi has accomplished the seemingly impossible: they've secured U.S. approval to create the first regulated financial exchange for trading on event outcomes.

Today, the Commodity Futures Trading Commission (CFTC) approved Kalshi as an authorized Designated Contract Market (DCM), ushering in the dawn of a new era for financial markets.

This historic moment heralds a seismic paradigm shift in how we invest and trade. Over the past century, derivatives and futures contracts emerged and evolved to help investors hedge risks. As the next step in this evolution, Kalshi's new "event contracts" now promise a world where all risks can be hedged and all opinions can be capitalized on.

Will it rain in New York tomorrow? Will Saudi Arabia normalize relations with Israel in 2020? Imagine being able to trade directly on these discrete events and many more.

I’ve known other startups that have tried and failed to get similar approval. Kashi’s success today is a testament to the ingenuity, perseverance, humility, and patience of co-founders Tarek Mansour and Luana Lopes Lara and the Kalshi team, and it's just the beginning.

Kalshi is now focused on building the exchange, itself a major technological challenge. I'm delighted that we've backed Kalshi from early on, and can't wait to see the exchange unveiled in the coming months.