The prediction market platform Kalshi has blocked the account of Alex Ursa, the Chief Operating Officer of iGaming operator Betr. The ban was imposed after Ursa developed a slot game using Kalshi's API and showcased it in a video on his X profile.
Unlike traditional slot games that rely on random numbers, Ursa's game utilized Kalshi's exchange contracts to determine outcomes.
According to Ursa, he launched the game on a real Kalshi account with actual transactions. The video demonstrated that each spin allocated $10 among nine sports contracts, resulting in consistent losses for the player.
In response, Kalshi stated that such a development violates the company's rules and emphasized that they do not consider themselves an iGaming operator, referring to their contracts as financial instruments.