Federal Judge Rules for Kalshi on Friday, Allowing Congress Control Betting

Sep 6, 2024, 10:47 PM

Kalshi, a U.S.-regulated prediction market platform, has won its federal lawsuit against the Commodity Futures Trading Commission (CFTC). A federal judge on Friday ruled in favor of Kalshi, allowing the platform to offer contracts on which party will control each house of Congress after the November election. This ruling opens up legal betting on U.S. elections, enabling the derivatives exchange startup to list contracts on Democratic vs. Republican control of Congress as soon as next week. The decision also clears the way for Kalshi to begin offering trading on U.S. political races.