Election event contracts offered by platforms like Kalshi Inc. stand to receive the Commodity Futures Trading Commission’s blessing under new acting Chairman Caroline Pham, who as a dissenting commissioner called for the agency to regulate political contract markets.
Kalshi faced off against the CFTC at a hearing before a federal appeals court this month, arguing the regulator exceeded its authority by cracking down on election bets under Biden-era Chairman Rostin Behnam. Kalshi sparked the litigation ahead of the 2024 presidential election, before its election-themed derivative contracts accurately predicted President Donald Trump would win a second term.
CFTC rule-writers and enforcers ...
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