‘An Explosion of Election Gambling’ Is Nigh, CFTC Warns Appeals Court
The regulator pleaded with the court to halt Kalshi’s political prediction markets for the duration of the CFTC’s appeal.
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The regulator pleaded with the court to halt Kalshi’s political prediction markets for the duration of the CFTC’s appeal.
Prediction market company Kalshi pushed back against the Commodity Futures Trading Commission’s move to block its new election contracts, saying they would harm the company.
The U.S. Commodity Futures Trading Commission appealed its loss against prediction markets platform Kalshi to the D.C. Appeals Court late Thursday.
The agency plans to appeal the case brought by the trading platform, and could still ask the higher court to stop the firm from listing the contracts.
Here’s how to listen to Thursday’s hearing in the closely watched federal court case over political prediction markets, and why it matters.
The agency says it can’t make “an informed decision” about whether to appeal the judge’s decision in Kalshi’s favor until it knows her rationale.
Uniswap Labs will pay $175,000 to settle charges it offered illegal leveraged and margined commodities transactions, a CFTC press release said.
Both parties argue the CFTC’s move to regulate prediction markets is an overreach, with Dragonfly arguing that the recent ‘Chevron’ court ruling limits its power.
Alexandra Damsker, author of “Understanding DeFi,” argues that the shifting nature of tokens means that agencies like the SEC and CFTC are incapable of regulating crypto effectively.
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