CandleFocus CFTC Pleads With Judge to Block Kalshi Election Contracts for 14 Days
2024-09-07
Author: Content Editor
The Commodity Futures Trading Commission (CFTC) has filed an emergency motion requesting a temporary stay of a court decision in favor of prediction market platform Kalshi. Last year, the CFTC prohibited Kalshi from listing contracts betting on the control of the US Congress after the November election, deeming it unlawful gaming. However, Kalshi sued and recently won the case. The CFTC is now seeking to prevent Kalshi from listing election markets for at least 14 days by requesting a stay of the court decision. If granted, this would delay Kalshi's entry into the election betting market until late September at the earliest.
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