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Read Full BioNew York mayor-elect Zohran Mamdani has publicly stated he is skeptical of casinos, but has been happy to reference prediction market platform Kalshi while on the campaign trail. His positions could mark a shift in the changing landscape of gambling in America.
Before his landmark election win, Mamdani said that one of his friends had backed him to win. Speaking on a Kalshi-sponsored episode of the podcast Flagrant, Mamdani laughed about getting a text from a high school friend saying, “Yo bro, I just put $1,000 on you. Please don’t let me down.”
The odds on Mamdani to win the race at that time were at 93% at Kalshi. The company often advertises itself as being a predictor of real events, and was elated that Mamdani endorsed the platform further in a campaign speech a few days later.
Kalshi posted the video of Mamdani referencing his odds at the platform on X.
While that may raise eyebrows at the best of times, it occurred simultaneously with Kalshi filing a lawsuit against the New York State Gaming Commission.
The lawsuit came in response to the Commission sending Kalshi a cease-and-desist letter a few days earlier. The letter stated, “The Commission demands that Kalshi cease and desist immediately from illegally operating, advertising, promoting, administering, managing, or otherwise making available sports wagering and/or a mobile sports wagering platform in New York.”
The platform may not need to spend as much on advertising, given that Mamdani was providing free airtime during his campaign.
Mamdani Skeptical of Casinos, But Will Support Public Opinion
Mamdani’s openness to new forms of online “betting” through prediction markets coincides with his public skepticism of casinos.
The Queens assemblyman said while he was skeptical, he would respect the mandate of state voters who authorized downstate gambling expansion more than a decade ago. He noted, “I’ve been open about my personal skepticism, and yet I also know this is the law.”
There are only three bids remaining for the three New York casino licenses. Mamdani said he will not stand in the way of any of the projects, stating, “I do not intend to use my position to block casino developments … despite my long-standing opposition to large-scale gambling.”
It appears he is fine, however, with small-scale online gambling in the form of prediction markets. In his victory speech, he challenged Donald Trump, stating, “If anyone can show a nation betrayed by Donald Trump how to defeat him, it is the city that gave rise to him.”
One thing the two opposing politicians share is their apparent endorsement of prediction markets. While Mamdani has been referencing Kalshi, Trump’s son serves as a political advisor to the company.
Truth Social will also be integrating Crypto.com’s prediction markets into the platform after signing a deal with the company. Trump responded to Mamdani on his social media network by posting, “…AND SO IT BEGINS!”
