Kalshi Hit With $54 Million Class-Action Over Iranian Supreme Leader Prediction Market

On March 7, 2026, prediction market operator Kalshi was sued in a U.S. federal court over a disputed market tied to the tenure of Iranian Supreme Leader Ayatollah Ali Khamenei, with plaintiffs seeking $54 million. The platform declined to settle bets placed on Khamenei leaving office before March 1, 2026, after he was killed in U.S.-Israeli military strikes, citing a controversial "death carveout" clause. Investors claim the terms were clear and binary, while Kalshi's CEO has defended the decision and offered to refund trading fees.