Judge Jia Cobb didn’t give her reasons for siding with Kalshi, which she said she would lay out in a forthcoming opinion.<\/p>\n
\u201cElection markets are now legal in the United States for the first time in 100 years. Americans will finally be able to trade the election on a US-regulated market,\u201d the startup\u2019s CEO and co-founder, Tarek Mansour, said in a statement.<\/p>\n
Hours later on Friday, the CFTC filed an emergency motion asking the judge to stay the decision for two weeks. The regulator said in the motion that it was in \u201cthe unenviable position of finding out that it has lost but without any explanation or reasoning.\u201d<\/p>\n
At a time when distrust in elections is at an all-time high, even a short listing of Plaintiff\u2019s contracts, and\/or similar election contracts on other DCMs, could harm public perception of election integrity and undermine confidence in elections,” CFTC lawyers wrote.<\/p><\/blockquote>\n
In a filing Sunday, Kalshi called the motion \u201cmeritless\u201d and said granting it would cause \u201cirreparable harm\u201d to the company. Kalshi had \u201cstaked its future\u201d on the litigation and on being able to participate in the forthcoming election markets, the company added.<\/p>\n
“The Commission lost, fair and square, on the law,” Kalshi said in its Sunday filing. “It should not be allowed to snatch a procedural victory from the jaws of defeat by running out the clock.”<\/p>\n","protected":false},"excerpt":{"rendered":"
A federal judge in Washinton, DC on Friday cleared the way for financial exchange and prediction platform Kalshi to offer markets on the outcome of the US election via event contracts. The Commodity Futures Trading Commission (CFTC), which regulates the exchange, had previously ordered Kalshi not to offer this product on the grounds that betting […]<\/p>\n","protected":false},"author":36,"featured_media":330011,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[60,61],"tags":[82218,91907,92268,82529],"acf":[],"yoast_head":"\n
Kalshi Can Offer Contracts on US Election, Rules Federal Judge<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n