Tarek Mansour, founder of Kalshi, addressed concerns about prediction markets being labeled as gambling in an Axios interview on April 9, 2026. Mansour highlighted that many financial innovations, such as the stock market during the South Sea Bubble and early 20th-century grain futures, were initially perceived as gambling. He emphasized the importance of distinguishing between gambling and speculation, arguing that prediction markets offer value beyond mere speculation and should not be equated with gambling.