U.S. Political Prediction Markets: Why Kalshi’s Court Victory Matters
If it turns out that the judge’s ruling preempts the CFTC’s proposed rulemaking, election event contracts may now be completely legal.
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If it turns out that the judge’s ruling preempts the CFTC’s proposed rulemaking, election event contracts may now be completely legal.
The U.S. Commodity Futures Trading Commission appealed its loss against prediction markets platform Kalshi to the D.C. Appeals Court late Thursday.
The agency plans to appeal the case brought by the trading platform, and could still ask the higher court to stop the firm from listing the contracts.
Here’s how to listen to Thursday’s hearing in the closely watched federal court case over political prediction markets, and why it matters.
The judge in the prediction market’s court case against the CFTC has called a hearing Thursday over the regulator’s motion for a two-week delay.
The agency says it can’t make “an informed decision” about whether to appeal the judge’s decision in Kalshi’s favor until it knows her rationale.
U.S. vice president Kamala Harris (Andrew Harnik/Getty Images)
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The U.S. Commodity Futures Trading Commission (CFTC) proposed a formal rejection of event contracts that bet on the outcome of political activity in a vote on Friday, beginning an effort to wall off U.S. customers from platforms that allow the trading of predictive contracts.