‘An Explosion of Election Gambling’ Is Nigh, CFTC Warns Appeals Court
The regulator pleaded with the court to halt Kalshi’s political prediction markets for the duration of the CFTC’s appeal.
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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.
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.
(Kevin Dietsch/Getty Images)
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.