Uncapped #48 | Tarek Mansour from Kalshi

Uncapped #48 | Tarek Mansour from Kalshi

From Uncapped with Jack Altman by Alt Capital

April 29, 2026 · 48 min

About this episode

Tarek Mansour discusses the concept of prediction markets and the journey of building Kalshi, a regulated prediction market exchange.

Tarek Mansour is the co-founder and CEO of Kalshi. Kalshi is a regulated prediction market exchange valued at $22B in 2026 where people trade on the outcomes of real-world events – things like inflation prints, Fed decisions, elections, or weather events. Instead of betting against a house, users trade against each other in a market, and prices reflect the collective probability of an outcome happening. Before starting Kalshi, Tarek worked as a quantitative trader at Goldman Sachs as a structured credit and equities analyst and at Citadel as a global macro trader. During his time at these firms, he realized a common thread: a lot of trading stemmed from an opinion on a future event. We covered the idea behind prediction markets and how they offer a more direct way to trade on beliefs about the future. The conversation follows the long, difficult path to building a regulated exchange in the U.S., from early skepticism to ultimately winning a landmark legal battle. We also discuss how these markets can improve forecasting, enable new forms of hedging, and change how information gets priced. --- Timestamps: (0:00) Intro (0:23) Kalshi’s genesis (5:05) Regulation-focused from…

People in this episode

Host: Jack Altman

Guest: Tarek Mansour

Topics covered

  • prediction markets
  • trading
  • regulation
  • hedging
  • forecasting

Keywords

  • Kalshi
  • prediction market
  • trading
  • regulation
  • hedging
  • Goldman Sachs
  • Citadel
  • forecasting

Mentioned in this episode

Organizations: Kalshi, Goldman Sachs, Citadel

Places: U.S.

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