Federal judge permits US bets on presidential election outcomes, overturning CFTC's ban.

A federal judge in Washington, D.C. has ruled that Americans can now legally bet on presidential election outcomes, overturning a previous ban by the Commodity Futures Trading Commission (CFTC). This decision benefits prediction market firm Kalshi, which can now offer event contracts. The ruling may also encourage other platforms like Polymarket to enter the U.S. market, where election betting has surged, indicating growing interest in crypto-based platforms.

September 09, 2024
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