Golden Finance reported that lawyers for the U.S. Commodity Futures Trading Commission (CFTC) argued in a brief filed with the appeals court that a federal judge "erroneously" allowed the prediction market Kalshi to list and trade election contracts, and reiterated many of the arguments it made in the lower court. The judge ruled last month that the CFTC could not prohibit Kalshi from listing election contracts. The regulator applied to the appeals court for a stay of execution to prevent the company from launching the product before the outcome of the appeal. But the judge of the court ruled that the CFTC failed to prove that irreparable damage would be caused.