CFTC Plans to Stop Kalshi Listing Election Prediction Contracts

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After a judge ruled against an order from the US Commodities and Futures Trading Commission (CFTC) prohibiting US regulated prediction marketplace Kalshi from offering prediction contracts for the 2024 election, the website proudly announced on its homepage:

“We did it! US election markets are coming to Kalshi. Keep an eye out for updates, and God bless America!”

However, in a motion filed late at night yesterday, the CFTC has requested an emergency hold on the judge’s decision for at least two weeks while the agency prepares for an appeal.

This request comes even before the judge, Jia Cobb of the United States District Court for the District of Columbia, publishes her reasoning for the initial dismissal order which was issued earlier that Friday.

The CFTC’s emergency filing states that without access to the judge’s reasoning, the agency is unable to make an informed decision on whether to appeal or not, and will not be able to fully present a motion for a stay during any potential appeal.