Kalshi CFO Saurabh Tejwani departs suddenly amid multi-front legal fight
Kalshi Chief Financial Officer Saurabh Tejwani has departed the company. DraftKings co-founder Matt Kalish disclosed the exit on X. Kalish characterized CFO departures as common in the industry. No reason for the departure was given. The exit comes as Kalshi faces active litigation in multiple states and a CFTC-linked insider-trading investigation. No replacement has been named. The timing was not specified in the posts, which drew modest engagement.
Tejwani's exit strips Kalshi of its senior finance voice during the costliest legal stretch in its history. The platform is now fighting state enforcement actions in five jurisdictions while preparing for Second Circuit argument. No CFO means no internal officer with primary authority over litigation budgets, insurance coverage, and cash reserves. Kalshi's legal burn is accelerating toward an August 5 deadline for final terms in Washington.
A new hire must master complex state-by-state financial exposure fast. The board's silence on succession suggests either confidence or chaos. Either way, competitors and creditors are watching the filing trail for signals of balance-sheet stress. The departure also removes a potential witness from any future CFTC or congressional inquiry into the platform's financial controls.