CFTC Says Court Ruling Allowing Kalshi to Provide US Election Forecasts Was Wrong

BlockBeats news, October 18, according to The Block, the U.S. Commodity Futures Trading Commission (CFTC) said that the U.S. District Court judge’s ruling that the CFTC exceeded its authority and prevented the prediction market Kalshi from providing U.S. election predictions was wrong.

In the appellant’s brief filed with the U.S. Court of Appeals for the District of Columbia Circuit on Wednesday, the U.S. Commodity Futures Trading Commission (CFTC) argued that the judgment should be "overturned and the CFTC’s order restored."

BlockBeats previously reported that on September 7, according to Coindesk, the regulated prediction market platform Kalshi won the lawsuit between it and the CFTC, which involved whether the Kalshi platform could open predictions for the U.S. election. It is reported that Kalshi only operates in the United States and settles transactions in ordinary US dollars. However, every prediction contract it lists is subject to approval or review by the CFTC.