Kalshi, a prediction market company, has filed a request to the U.S. Commodity Futures Trading Commission (CFTC) to allow it to list and trade its new political contracts while the commission appeals its recent court loss. Kalshi argues that the CFTC would not suffer major harm if the contracts were allowed to trade during the appeal, but the company would face substantial harm if it is blocked from offering betting on the outcome of the 2024 elections. Kalshi won a court victory last week when a federal judge ruled in favor of its political prediction markets, but the CFTC filed for an emergency stay and lost. The contracts went live briefly before being temporarily suspended by the appeals court. Kalshi's filing aims to persuade the appeals court judges to allow trading while the appeal process takes place, as it would help the company recoup its investment and compete against offshore platforms like Polymarket.
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