The U.S. Commodity Futures Trading Commission (CFTC) plans to continue pursuing its case against Kalshi's election contracts, despite a recent court defeat. The CFTC believes that the activity is illegal and aims to make its case. The regulator was recently ruled to have exceeded its authority by banning Kalshi from listing U.S. political prediction markets. The CFTC has asked for an emergency stay on the ruling, and a hearing is scheduled for Thursday. The chairman of the CFTC, Rostin Behnam, stated that the agency should not be policing U.S. elections and that if users want election betting, it should be overseen at the state level within the gambling industry.



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