Squawk Pod: Kalshi CEO on NY’s lawsuit, a Yen-tervention, water cyberattacks- 08/03/26 | Audio Only

Summary

Squawk Pod covers New York's lawsuit against prediction market Kalshi, with CEO Tarek Mansour defending his platform's legality and consumer benefits. Cybersecurity expert Adam Isles details Iranian cyberattacks on US water systems, warning of increased scale and AI-enabled threats. The podcast also touches on the US intervention in the yen, a potential AstraZeneca-Bristol-Myers Squibb mega-merger, and a record-breaking Spider-Man box office weekend.

• New York State sues Kalshi, alleging illegal gambling; CEO Tarek Mansour argues prediction markets are regulated, safer for consumers, and willing to pay taxes.
• Mansour asserts that Kalshi customers netted $200M in profits while sports betting customers lost $200M, framing traditional sportsbooks as inferior.
• The US intervened to prop up the Japanese yen, with Andrew Ross Sorkin explaining the motive is to avoid a Treasury sell-off that would raise US interest rates.
• AstraZeneca and Bristol-Myers Squibb are reportedly in merger talks, which would create a $400bn pharma giant and already moved both stocks.
• FBI reports Iranian cyberattacks on municipal water systems across at least seven states, with tens of systems compromised.
• Adam Isles highlights the scale of attacks, theft of industrial control files, and AI weaponization, implying a growing need for cybersecurity investment.
• Spider-Man: Brand New Day opens to $927 million globally, one of the biggest debuts ever, while The Odyssey extends its 70mm IMAX run.