Regulator’s Attempt to Block Election Betting Contracts Rejected by Federal Appeals Court

‘US presidential election markets are legal. Officially. Finally. Kalshi prevails,’ Kalshi CEO Tarek Mansour said on social media.
Regulator’s Attempt to Block Election Betting Contracts Rejected by Federal Appeals Court
Voters work on their ballots at a polling station at the Elena Bozeman Government Center in Arlington, Va., on Sept. 20, 2024. AFP via Getty Images
Tom Ozimek
Updated:
0:00

A federal appeals court has rejected an attempt by U.S. financial regulators to block derivatives trading platform Kalshi from offering contracts that let people make speculative bets on the outcome of U.S. elections.

The U.S. Court of Appeals for the District of Columbia Circuit on Oct. 2 denied an emergency motion for a stay pending an appeal filed by the Commodity Futures Trading Commission (CFTC). The CFTC had sought to halt a district court’s decision that allowed Kalshi to offer financial market instruments enabling Americans to legally bet on elections in a regulated marketplace.
Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
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