US Election Betting Again on Hold as CFTC Seeks to Block Kalshi

Americans seeking to bet on the outcome of the 2024 elections on a federally regulated derivatives exchange have again hit a roadblock.

A federal appeals court issued a freeze on trading on Kalshi Inc.’s political derivatives contracts late Thursday so that it could sort out a US government request to prevent the contracts from continuing to trade. Kalshi, which had only gone live with the election contracts earlier Thursday, suspended trading after the court’s ruling.

The US Court of Appeals for the DC Circuit could rule as soon as Monday on whether to let Kalshi resume trading or whether ...