Daniel Negreanu becomes Kalshi ambassador as platform faces mounting legal challenges

• Poker Hall of Famer Daniel Negreanu joins prediction market platform Kalshi as brand ambassador following months of private usage
• Partnership announcement comes as Kalshi faces lawsuits from multiple US states challenging its operations as unlicensed gambling
• Negreanu launches $30,000 WSOP Paradise package giveaway to celebrate collaboration with the CFTC-regulated trading platform

Poker legend Daniel Negreanu has partnered with Kalshi, the US-based prediction market platform, as the company navigates increasing regulatory scrutiny over its trading model.

The announcement, made Tuesday by Kalshi CEO Tarek Mansour, brings one of poker’s most recognisable figures to a platform facing multiple state lawsuits over alleged illegal gambling operations.

Negreanu, known globally as “Kid Poker”, revealed he had been using Kalshi privately for months before formalising the partnership. The seven-time World Series of Poker winner and Poker Hall of Famer has $56 million in live tournament winnings.

“I’m stoked because I’ve sort of been holding this for a while because I’ve been playing on Kalshi for quite a while,” Negreanu declared in an exclusive interview for Poker News. “We’ve been sort of talking about how I could potentially help grow Kalshi and whatnot. It’s so fun. I play Kalshi markets, where it’s not about me making a bunch of money. I’m betting $100, $250, but I sweat the markets every day”.

In a LinkedIn post announcing the partnership, Kalshi CEO Tarek Mansour drew parallels between Negreanu’s career struggles and the company’s regulatory battles.

“Kalshi’s fight for prediction markets has followed a similar path. We have failed and been rejected more times than I can remember, but we did not waver in our commitment to the vision. Expand the world of financial markets, no matter the cost, no matter the hardship,” he wrote.

Platform distinguishes itself from sportsbooks

Kalshi operates as a regulated prediction market under Commodity Futures Trading Commission oversight, offering binary Yes/No contracts on real-world events spanning politics, economics, sports and pop culture. The platform markets itself distinctly from traditional sportsbooks, claiming to offer better odds without winner limitations.

“It’s not a sportsbook. Meaning you can get better odds. You won’t get limited for winning too much. And you can trade in and out of positions even within games. And because it’s a trading market, it’s available in all 50 states,” Negreanu explained in a video released on LinkedIn.

The platform reports over one million users with more than $2 billion in trades executed, positioning itself as the first CFTC-regulated prediction exchange in the United States.

Legal challenges intensify across states

Massachusetts Attorney General Andrea Joy Campbell filed the most recent lawsuit against Kalshi, seeking an injunction to block sports contracts from the platform.

“Sports wagering comes with significant risk of addiction and financial loss and must be strictly regulated to mitigate public health consequences,” argued Attorney General Campbell in the official press release. “This lawsuit will ensure that if Kalshi wants to be in the sports gaming business in Massachusetts, they must obtain a licence and follow our laws.”

Multiple states have challenged Kalshi’s operations, with Nevada and New Jersey filing lawsuits accusing the platform of operating as an unlicensed sportsbook, though federal judges sided with Kalshi in both cases. Maryland regulators ruled against the company, while operations continue pending appeal.

The Ho-Chunk Nation in Wisconsin has also sued both Kalshi and Robinhood in August, claiming federally overseen prediction markets infringe upon tribal sports betting rights.

Launch giveaway

To celebrate the partnership, Negreanu announced a $30,000 WSOP Paradise package giveaway, including a $26,000 Super Main Event entry and nine nights at Atlantis Royal. Players can enter using signup code “DNEGS,” with those depositing $100 receiving a $40 bonus.

“For one of the people who signs up, I’ll meet them in the Bahamas, maybe I’ll give them some pointers, maybe they’ll give me some pointers,” Negreanu told Poker News.

The partnership could potentially introduce poker-specific prediction markets to the platform. Negreanu suggested markets tied to tournament guarantees and Player of the Year awards, noting poker players’ enthusiasm for proposition betting.