Summary of U.S. Election Betting: Federal Court 'Erred' in Letting Kalshi Launch ...

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2024-10-17 18:55:58

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Summary of U.S. Election Betting: Federal Court 'Erred' in Letting Kalshi Launch Prediction Markets, CFTC Says

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U.S. Election Betting: Federal Court 'Erred' in Letting Kalshi Launch Prediction Markets, CFTC Says

A federal judge "erred" in letting prediction market purveyor Kalshi list and trade election contracts, attorneys for the U.S. Commodity Futures Trading Commission argued in a brief to an appellate court Wednesday, reiterating many of the arguments it made during its case before the lower court.

https://www.coindesk.com/policy/2024/10/17/us-election-betting-federal-court-erred-in-letting-kalshi-launch-prediction-markets-cftc-says/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

The U.S. Commodity Futures Trading Commission is appealing a federal judge's decision to allow prediction market purveyor Kalshi to list and trade election contracts, arguing that the judge ignored the definitions of terms under the Commodity Exchange Act and barred the agency from examining 'transactions' that involve gaming.

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2024-10-17 18:55:58

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