Kalshi defends VIP program amid Democratic scrutiny

Kalshi responded to Democratic lawmakers' concerns about loyalty programs at prediction markets and sportsbooks, emphasizing differences in its VIP program.

The company stated that its Kalshi Platinum program and platform are fundamentally different from sportsbook offerings.

Kalshi argued that its business model does not include predatory incentives, aiming to distinguish itself from criticized loyalty programs.

This defense was communicated in a letter shared with The Hill, highlighting Kalshi's position in the ongoing discussion about loyalty programs in the industry.