The US Commodity Futures Trading Commission (CFTC) and prediction-betting platform Kalshi appeared before a panel of judges to discuss the launch of political prediction markets in the US. The CFTC argued that the markets, which allow users to place bets on political outcomes, could be manipulated and pose a threat to democracy. The judges expressed skepticism towards both parties and questioned the CFTC's ability to police the underlying events on which the bets are placed. Kalshi argued that allowing regulated markets would reduce the risk of manipulation and increase transparency. The CFTC had previously filed for an emergency stay to block Kalshi from listing the markets after a federal judge ruled in favor of the platform. The panel of judges did not indicate whether they would allow Kalshi to proceed while reviewing the lower court's ruling.



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