[Kalshi CEO: Death will not be used as a settlement condition, Khamenei-related prediction markets will settle at the last trading price before his passing] BlockBeats news, March 1, Kalshi co-founder and CEO Tarek Mansour posted on the X platform stating, 'Regarding Khamenei: We will not launch markets directly tied to "death." When the potential outcomes of certain markets involve death, we design rules to prevent people from profiting from death events. This is exactly what we are doing in this case. I understand that some of you disagree and believe these markets should be launched without a "death exclusion clause," as it would make the rules simpler, and many traditional markets (such as crude oil futures) can themselves be considered indirect markets for war and death. However, we believe this is different from markets directly using someone's death as a settlement condition—such markets are not permitted for entities regulated in the United States. Today's incident also made us realize that we have room for improvement in optimizing user experience and making rules more visible and clear. Meanwhile, we will take the following measures: refund all fees generated by the "Will Khamenei step down as Supreme Leader" market; if you hold a position before Khamenei's passing, it will be settled at the last trading price before his death; if you establish a position after his passing, the full cost of establishing the position will be refunded. No user will lose a single dollar in this market. We will settle at the last trading price before the time of death—specifically at 1:14 AM Eastern Time (the time of the first strike). If you bought a position at a higher price today, we will refund the difference to ensure your funds are not affected. Additionally, we will refund all fees paid by users in this market.'