Kalshi CEO Tarek Mansour is looking for new ways to protect consumers losing money on the prediction markets platform, Bloomberg reported Wednesday (Oct. 28).

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“Irresponsible users is a real worry for any of these types of products,” Mansour said in an interview with Emily Chang on Bloomberg’s The Circuit, per the report

Facing research showing that most Kalshi customers lose money, Mansour said speculators do not do well with many of the products that have become popular with retail traders, such as options and futures, according to the report. These losses are not keeping Kalshi from discussions with regulators about establishing additional safeguards for its customers.

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“Our message is not, ‘Hey, there’s nothing to see here,’” Mansour said, per the report. “Our message is like, ‘Let’s regulate it, let’s figure out the right guardrails and where there are gaps.’”

As Kalshi and other prediction platforms have grown in popularity, they have faced criticism for exposing wagers on sports and elections to new audiences of vulnerable people, younger users and recovering gambling addicts among them, the report said.

Although online sportsbooks are normally limited to people over the age of 21, Kalshi is available to nearly anyone over 18 in the United States, aside from a few states where it has halted service, according to the report.

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