CFTC's Setback: Kalshi Gains Approval for US Election Betting
Bitcoin.com News•2 months ago•
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CFTC's Setback: Kalshi Gains Approval for US Election Betting

General Bitcoin News
kalshi
cftc
electionbetting
predictionmarkets
regulation
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Summary:

  • Judge Jia Cobb ruled in favor of Kalshi on September 6, 2024.

  • The ruling allows Kalshi to offer U.S. election bets.

  • The decision rejected a CFTC cross-motion for summary judgment.

  • Kalshi's victory may influence the future of prediction markets.

On September 6, 2024, Judge Jia Cobb ruled in favor of Kalshi, allowing the platform to offer bets on U.S. elections. This decision rejected the CFTC's cross-motion for summary judgment, marking a significant victory for Kalshi and its operations in the betting market.

This ruling could have implications for the future of prediction markets and how they interact with regulatory frameworks. Kalshi's ability to proceed with offering election bets highlights the ongoing debate surrounding regulation in the gambling and cryptocurrency spaces.

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