Why did you decide to sue the government over election markets?

This week, Tarek Mansour Co-founder & CEO of Kalshi joins the show to discuss the next chapter for one of the fastest growing start ups in the U.S. We deep dive into the Kalshi origin story, how media and markets are evolving, the opportunity for prediction markets, advice for founders and more. Enjoy!

--

Follow Tarek: https://x.com/mansourtarek_

Follow Jason: https://x.com/JasonYanowitz

Follow Empire: https://twitter.com/theempirepod

--

Join the Empire Telegram: https://t.me/+CaCYvTOB4Eg1OWJh

Start your day with crypto news, analysis and data from David Canellis.

Subscribe to the Empire newsletter: https://blockworks.co/newsletter/empire?utm_source=podcasts

--

Crypto’s premiere institutional conference returns to London in October 2025. Use code EMPIRE200 for £200 off at checkout: https://blockworks.co/event/digital-asset-summit-2025-london

--

Crypto-native institutions and developers demand institutional-grade infrastructure with regulatory clarity and full asset control. Blockdaemon's Earn Stack is a non-custodial platform combining high-performance staking rewards and seamless DeFi integration with no intermediate smart contract or vaults.

Programmatically access leading Ethereum & Solana staking rewards, plus DeFi opportunities across lending protocols, DEXs, and AMMs. Book a Demo!

--

peaq, the Machine Economy Computer, proudly sponsors the Empire podcast.

peaq is home to 60+ apps across 20+ industries and millions of devices, machines, and onchain robots.

It powers the world’s first tokenized robo-farm, launching soon in Hong Kong, and has launched the Machine Economy Free Zone in Dubai as a Web3 x Robotics x AI innovation hub.

For more about peaq, check out www.peaq.xyz

--

Katana is a DeFi-first chain built for deep liquidity and high yield. No empty emissions, just real yield and sequencer fees routed back to DeFi users.

Pre-deposit now: Earn high APRs with Turtle Club [https://app.turtle.club/campaigns/katana] or spin the wheel with Katana Krates [https://app.katana.network/krates]

--

Mantle is pioneering ""Blockchain for Banking"" as a revolutionary new category that sits at the intersection of TradFi and web3.

Key elements for Mantle as the ""Blockchain for Banking"":

- Transactions posted to the blockchain

- Compatibility with TradFi rails

- Integrated DeFi features

Mantle Network, the access layer — transforms Mantle Network into a purpose-built vertical platform — the blockchain for banking — that enables financial services on-chain. Mantle leads the establishment of Blockchain for Banking as the next frontier.

Follow Mantle on X (@Mantle_Official) for the latest updates on Mantle as the 'Blockchain for Banking'. -- Timestamps: (00:00) Introduction

(02:28) The Kalshi Origin Story

(19:29) Raising Money From Sequoia

(21:46) Ads (Blockdaemon, Peaq)

(22:58) Why The Election Was Kalshi's Breakthrough Moment

(33:37) Becoming The Fastest Growing Start Up

(37:40) Ads (Blockdaemon, Peaq)

(38:52) Why Prediction Markets Are The Superior Model

(43:40) Integrating With Crypto

(50:20) Ads (Katana, Mantle)

(51:57) Partnering With Robinhood

(54:39) The Future of Prediction Markets & Media

(01:00:11) The Perps Opportunity

(01:03:19) Competing With Polymarket

(01:09:40) Advice For Founders -- Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.