Kalshi, Elon Musk's xAI Ink Deal For Content, Or Did They?
Update: Bloomberg retracted its story on the deal, and Kalshi CEO deleted his social media posts.
Here’s an update on today’s news from me; the original story was retracted by Bloomberg and Kalshi CEO Tarek Mansour deleted his posts about the partnership. The original story appears below.
Prediction market platform Kalshi and Elon Musk’s artificial intelligence company xAI are partnering.
According to a report from Bloomberg (paywall), xAI will be used “to provide tailored information to offer guidance for bets made by the site's users”:
With xAI, the site plans to, for example, synthesize news articles on historical trends to inform traders, whether they're considering betting on an upcoming Federal Reserve rate change or an election result.
Post on LinkedIn from Kalshi CEO Tarek Mansour here:
No one has fought for truth harder than Elon Musk. He has inspired me at every step.
I could not be more excited to announce Kalshi’s upcoming partnership with xAI to further take prediction markets mainstream.
Together, we’ll shape the future of news and information.
The new deal creates further bonds between Kalshi and the Trump administration:
Donald Trump Jr. is a strategic advisor to Kalshi.
Incoming Commodity Futures Trading Commission chairman Brian Quintenz is a member of Kalshi’s board. The CFTC regulates Kalshi.
Eliezer Mishory recently left as Kalshi’s general counsel to join Musk’s Department of Government Efficiency.