U.S. federal appeals court upholds KalshiEX's 2024 congressional election betting contracts, rejecting CFTC's attempt to block.

A U.S. federal appeals court has upheld a lower court's ruling allowing the New York-based platform KalshiEX to offer betting contracts on the 2024 congressional elections. The court rejected the Commodity Futures Trading Commission's (CFTC) attempt to block these contracts, stating they are not considered gambling but prediction markets. The CFTC has the option to revisit the issue if new evidence emerges regarding potential public harm.

October 02, 2024
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