Kalshi CEO Defends Khamenei Market Settlement Amid Backlash

Kalshi’s ‘Ali Khamenei out as Supreme Leader?’ market accumulated more than $50 million in total trading volume, and the platform paid traders who held positions before Khamenei’s death at the last-traded price timestamped 1:14 AM ET on settlement, according to reporting on the event ^[1].

The settlement prompted user backlash alleging unfair carve-out and ‘no death’ rules; Kalshi’s CEO defended the company’s handling in a detailed post on X, stating the outcome followed the market’s stated rules and design ^[3][1].

Kalshi additionally promised full fee refunds to affected users and the firm’s founder provided updates on the carve-out decision in subsequent statements, which coverage says were intended to address trader concerns ^[4][2].

Kalshi says it adhered to its market rules in settling the Khamenei contract and has moved to refund fees as it responds to user complaints; coverage highlights both the platform’s defense on X and the company’s refund commitment ^[3][4].