Kalshi plans to roll out a parent access portal and AI-backed selfie verification in a move aimed at tightening identity checks on its prediction market, following reports of minors bypassing age rules.
Speaking this week at the Semafor World Economy Summit in Washington, DC, co-founder and CEO Tarek Mansour outlined new account controls intended to give families more visibility into platform access.
Mansour said the parent portal will allow individuals to submit identification even if they do not hold a Kalshi account. The feature is designed to let parents determine whether their name, date of birth, phone number, mailing address, and Social Security or driver’s license number have been used to create an account.
“We are launching a portal for parents to basically submit their identification, even if they don’t want to be users of Kalshi, to see if someone is using it. Because then they can see if their children are using their ID and police it,” Mansour said.
Kalshi is also adding a selfie requirement during account registration. The company said uploaded photos will be reviewed by AI to confirm the identity of the applicant.
Joint accounts planned
Mansour said Kalshi is also developing joint accounts that would allow multiple traders to maintain wallets and view one another’s activity.
“[We’re] launching this kind of notion of family accounts, where people can track each other’s activity,” Mansour said. “How do we create a sort of accountability structure amongst friends and families for people to be like, ‘Hey, you might be doing a little too much here.’ We want this to be a tool for good, not a tool for excessive behaviors.”
Trading under federal regulation
US prediction markets fall under the oversight of the Commodity Futures Trading Commission, with trading limited to users aged 18 and older. Unlike sportsbooks, which operate under state gaming rules with detailed consumer safeguards, prediction markets follow a separate federal framework.
The CFTC does require operators to know their customers. Still, enforcement officials have indicated that the agency is directing attention toward more serious breaches rather than procedural lapses.
During a March 31 appearance at New York University School of Law, David Miller, the director of enforcement at the CFTC, said his unit is “not prioritizing technical violations, but rather those who willfully decide to break” KYC rules.
“Anti-money laundering and KYC laws are essential in combatting terrorism, narcotrafficking, fraud, and other serious illegal activity,” Miller said.
CFTC-regulated prediction markets bear much of the regulatory responsibility in not only knowing their customers but also ensuring that the platforms are not used for insider trading.
“Exchanges have obligations to have appropriate surveillance, compliance practices and procedures, promote fair and equitable trading, protect markets from abusive practices, and, importantly, to only list contracts that are not susceptible to manipulation,” Miller said.
