Kalshi CEO defends Khamenei market design after backlash, says platform will reimburse all fees
Platform to reimburse all fees and settle positions
The Kalshi platform has defended its Khamenei-related market design following user backlash, stating it will reimburse all fees and settle positions at the last-traded price before the event.
Settlement and refund mechanism
- Pre-death positions are settled at the last-traded price.
- Post-death positions are fully refunded to users.
- All fees are reimbursed to traders.
Response to user criticism
Users accused the platform of unclear user experience, prompting the company to clarify that it aimed to provide transparency in settlement methods. The platform stated that it reimbursed all fees and net losses due to concerns over user understanding of the UX.
External coverage and reactions
Multiple outlets, including MEXC, X (formerly Twitter), and The Block, have reported on the incident, highlighting the controversy surrounding the market design and the platform’s response.