Tarek Mansour, CEO of prediction market platform Karsi, appeared on CNBC’s “Squawk Box” and acknowledged that the company is in the early stages of planning a possible IPO.
Mansour said that while the company’s public market debut won’t happen this year, it makes sense for Kalsi to start considering an IPO at this stage of growth.
“If you’re a company with the financial health and growth rates that we’re seeing, those conversations have to happen,” he said. “People start asking that question, and we’re basically thinking about it, but obviously, we don’t have an answer yet.”
The Information reported last week that Kalsi was in early talks for a potential IPO, but noted that a listing was unlikely until late 2027 or 2028. Mansour said Wednesday that the IPO would not take place in 2026, but did not provide a specific timeline.
Kalsi has grown tremendously over the past year. At the end of June 2025, the company was valued at $2 billion. In May, the company announced a Series F funding round at a valuation of $22 billion.
Driving that valuation, prediction market industry watchers say, is the opportunity these markets have with institutional investors. While retail users have been driving Kalsi’s growth, the company has begun changing its rhetoric and product development to increase its appeal to Wall Street.
But to be hired on Wall Street, Mr. Kalsi will need to overcome concerns about potential insider trading on the platform. Mansour on Wednesday highlighted the steps the company has taken to do that, including enhanced measures to know a trader’s employer and “know-your-customer” verification requirements.
He also pointed to lawsuits brought against individuals by Carsi as evidence that efforts to curb insider trading concerns are working.
“It’s a difficult problem, but it’s not impossible,” Mansour said of creating market health with prediction market platforms.
Disclosure: CNBC and Kalsi have a commercial relationship that includes customer acquisition and minority ownership.
