U.S. Court Legalizes Election Betting; Kalshi Resumes Markets After CFTC Pause

Oct 2, 2024, 02:42 PM

A U.S. federal appeals court has ruled that betting on congressional and presidential elections is lawful, allowing prediction markets to include election markets. The decision enables platforms like Kalshi, founded by Tarek Mansour, to legally offer contracts on political outcomes. The court's ruling ends a pause requested by the Commodity Futures Trading Commission (CFTC), clearing the way for Kalshi to resume listing its election contracts. With the 2024 presidential election approaching, prediction markets are gaining attention.