So Kalshi is refunding users and not Coinbase?

Below is the exact response I received from Coinbase. A link to Kalshi policy but no refund? Kalshi is refunding users who placed bets after the death occurred, and Coinbase is not? Unbelievable. I’m removing all of my assets from Coinbase immediately.

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Confirming receipt of your complaint and thank you for raising. In response to your complaint, please see the below detail on the settlement of your position in the "Ali Khamenei out as Supreme Leader?" market following the events of February 28.

This market was governed by specific criteria regarding the nature of the Supreme Leader's transition. Per the market's rules, if a leader leaves office solely due to death, the market does not resolve as a binary "Yes" (100% or $1.00).

Instead, the rules require the market to resolve at fair value, which is determined by the last traded price prior to the confirmed reporting of death. Because the market did not trigger a 100% "Yes" outcome, the settlement price was set at the last traded fair value. Your final payout was calculated by multiplying this settlement price by the number of contracts you held.

Please see the official market rules for "Ali Khamenei out as Supreme Leader?" here: https://kalshi-public-

docs.s3.amazonaws.com/contract terms/ WLEADEROUT.pdf

Based on the above information, Coinbase Financial Markets is closing this complaint.

Regards,

Coinbase Financial Markets