The Commodity Futures Trading Commission opposes the offer of bets on political races offered in contracts by Kalshi and other event-based platforms.
A federal appeals court fast-tracked the Commodity Futures Trading Commission 's case challenging the right of the Kalshi exchange to offer contracts that pay off as bets on U.S. political elections.
The U.S. Court of Appeals for the District of Columbia Circuit directed the court's clerk to schedule oral arguments on the "first appropriate date" after that reply is filed.A commission spokesperson declined to comment on the schedule. Kalshi CEO Tarek Mansour, in a statement, said his company is "confident" that the law allows election contracts.
The commission quickly appealed that ruling to the D.C. Circuit Court of Appeals, which promptly issued an injunction temporarily barring Kalshi from accepting congressional control contracts.
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