Activist Group Says Kalshi’s Election Market Should Be Shut Due to ‘Manipulative’ Whales
Better Markets is using Polymarket’s “French connection” as ammo against the prediction market’s regulated competitor.
Binary trading platforms with better performance and payouts
Kalshi
Better Markets is using Polymarket’s “French connection” as ammo against the prediction market’s regulated competitor.
In just three weeks, Kalshi’s presidential prediction market has passed $30M in volume. It still trails Polymarket’s $2 billion.
A federal judge “erred” in letting prediction market purveyor Kalshi list and trade election contracts, attorneys for the U.S. Commodity Futures Trading Commission argued in a brief to an appellate court Wednesday, reiterating many of the arguments it made during its case before the lower court.
A note from Kalshi’s market research team suggests the prediction market – polls gap can be explained by Harris’ sliding popularity with key demographics.
With a month to go before Election Day, Kalshi and Interactive Brokers have listed prediction markets on the race for the White House.
The CFTC “has failed to demonstrate that it or the public will suffer irreparable injury absent a stay pending appeal,” an appeals court said, clearing the prediction market to resume listing the contracts.
The CFTC is working to ban political prediction markets. Its current goal: Get a federal appeals court to keep one from launching while it argues a judge was mistaken in overturning its rejection of Kalshi.
A panel of judges grilled attorneys for the U.S. Commodity Futures Trading Commission and prediction-betting platform Kalshi over the company’s efforts to launch political prediction markets in the U.S., without indicating whether they’d allow Kalshi to offer these products while reviewing a lower court’s ruling on the products.
The regulator pleaded with the court to halt Kalshi’s political prediction markets for the duration of the CFTC’s appeal.
Prediction market company Kalshi pushed back against the Commodity Futures Trading Commission’s move to block its new election contracts, saying they would harm the company.