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Once the deal is completed, 80% of its EBITDA is expected to come from those two markets.

According to the deal investor deck, the combined group expects online betting and gaming to be its largest vertical, as it accounted for 48% of the group’s combined pro forma adjusted EBITDA in H1.

Distributed gaming followed at 27%, then casinos at 25%.

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Kalshi stated that these statements successfully moved market prices and that Santos realised profits totalling $17,839.57 from the trades. After detecting Santos’ trades, Kalshi froze his account then referred the matter to federal authorities, NPR reported. 

Santos criticised the exchange and its decision to ban him from trading in a series of posts on X.

Hey @Kalshi thanks for the lifetime ban from your gambling platform.

Let’s see how much longer you guys are around for.

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“As Africa’s gambling industry continues to grow, player protection must grow with it,” he said. “Africa Safer Gambling Week brings regulators and industry together around a shared commitment to safer gambling and stronger consumer protection.

“We fully support consumers having the tools and information they need to gamble responsibly, this week, like every week, is about ensuring our customers’ safety.”

The AiA has urged stakeholders of Africa’s gambling sector to collaborate, something the association said will prove increasingly important as the continent’s industry continues to develop.