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“We think there needs to be stronger regulations into the predictive markets,” he said. “We want to see that to protect the integrity of our game – we want to make sure we are protecting the consumers that are on those platforms.”
Despite a rapid ascension throughout the US, Kalshi has been relatively mum on potential international expansion down the road. There is some sentiment that Kalshi will wait to build abroad until after the completion of an initial public offering. At present, Kalshi has sought a valuation of around $44 billion.
Kalshi has imposed strict protocols for customer sign-up, which includes proof of US residency, along with a US tax identification number. The operator also requires traders to complete a robust know-your-customer check before trading on its site.
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Türkiye’s Law No. 7258 criminalises the operation of gambling activities without a licence. Offences are often combined with money laundering and fraud charges, amplifying legal consequences for offenders.
This latest operation forms part of an ongoing surge in Türkiye’s efforts to curb illegal betting throughout 2026.
Earlier this year, Turkish Interior Minister Mustafa Çiftçi called illegal betting a “scourge that corrupts society” and emphasised a move towards tougher enforcement.
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OpenBet emphasized that this change comes at a strong moment for the company and follows its incredibly successful delivery for customers through the World Cup. Throughout the tournament, OpenBet processed 175 million bets totaling $3 billion.
CEO Levin, who is set to transition to a chair role, commented on the shift, saying that he was very confident that Konstakis has what it takes to be CEO and drive OpenBet to new heights.
He [Konstakis] knows our business, our customers and our technology inside out, and has played a central role in shaping our priorities and how we execute against them. Furthermore, Nikos has been a true confidante and partner in the business since coming on board over eight years ago.
