Legal election betting hits another roadblock

Published On Sep 13, 2024, 3:55 PM

The Commodity Futures Trading Commission (CFTC) has blocked trading on Kalshi Inc.'s political derivatives contracts that allow betting on the outcomes of the 2024 elections. The decision was made by a federal appeals court, preventing the recently launched contracts from being traded while the CFTC seeks to permanently prohibit these contracts. The CFTC argues that allowing election betting could undermine election integrity and raises concerns about market manipulation.