Kalshi Scuttles Bid for CFTC Nod to Offer Bets on US Elections

Kalshi Inc. has withdrawn its bid to get the US government’s blessing to list derivatives that would let Americans bet on the outcome of congressional elections, according a notice on the Commodity Futures Trading Commission website.

The New York-based exchange plans to resubmit an application to let people bet on which party would control Congress within a matter of weeks, said a person familiar with the matter, who asked not to be identified because the plans haven’t been made public. The revised application will aim to address concerns the agency’s staff had with the original plan, the person said.

Kalshi ...