Tarek Mansour, MIT alumnus and founder of the prediction market exchange Kalshi, speaks to MIT's 18.642 class on building a federally regulated exchange for trading on event outcomes. He traces his path from Wall Street trading desks to founding Kalshi, describing the regulatory process of getting the CFTC to approve a new category of financial product and the obstacles that process created. Mansour discusses why prediction markets matter as a mechanism for pricing uncertainty about real-world events, how exchange infrastructure differs from traditional derivatives markets, and what it took to convince regulators and investors that trading on elections, weather, or economic data deserved a legitimate marketplace. The talk mixes entrepreneurial narrative with concrete detail on market design and regulatory strategy, aimed at students studying the mathematics and mechanics of modern financial markets.