CandleFocus Kalshi's New Political Prediction Markets Halted as CFTC Appeals Loss
2024-09-13
Author: Content Editor
A U.S. federal appeals court has temporarily halted Kalshi's new political prediction markets after the Commodity Futures Trading Commission (CFTC) requested an emergency stay. The CFTC had previously banned Kalshi from listing U.S. political prediction markets, but a lower-level judge ruled that the agency exceeded its authority. Kalshi, the plaintiff in the case, argued that the ban was arbitrary. The CFTC filed an emergency motion to stay the markets while it considers whether to appeal the ruling. The appeals court has ordered Kalshi to halt its contracts and file a response, with the CFTC able to file a reply. The CFTC is also in the process of banning political prediction markets in the U.S. due to concerns about fraud.
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