Kalshi funds NY schools amid lawsuit

Kalshi is investing millions of dollars in New York public schools even as state regulators fight to keep the company from operating under current gambling rules. The prediction market platform launched a three-year partnership with digital learning developer Everfi to fund educational programs in the state.

The initiative totals $2.4 million over the next three years. The funds will support a curriculum designed to teach students how to engage with social media and artificial intelligence. The program also includes a STEM career-readiness track focused on data science, healthcare, software development, and advanced manufacturing.

Tarek Mansour, CEO of Kalshi, stated the goal is to open doors for future innovators. He noted that math served as his anchor while growing up in Lebanon, leading him to study at MIT and later co-found the company. Mansour said too few students currently have access to education that helps them explore future STEM careers.

Elizabeth Figoni, Senior Vice President at Everfi, said the company is investing in updated learning experiences. She explained that the digital courses help students think critically about online information and build healthy digital habits. According to Figoni, Everfi’s curricula are already used in more than 100 New York public schools.

This charitable push comes shortly after New York Attorney General Letitia James sued Kalshi in July. The lawsuit seeks $36 billion in damages, arguing the company circumvents state gambling laws by facilitating event contracts. James previously labeled Kalshi an illegal operation, stating that prediction markets are gambling platforms plain and simple.

The legal conflict expanded one month later when the Attorney General’s office filed a similar suit against Polymarket, another prediction market. James argued that by ignoring state laws, Kalshi was harming New Yorkers while running an illegal operation. The state is taking both companies to court to uphold its gambling statutes.

Kalshi made another major donation last month, giving $3 million to Housing Works for a healthcare clinic in East Harlem. The company continues its financial commitments in the state while the legal battle over its classification as a betting platform proceeds in the courts.