The CFTC voluntarily withdrew its appeal of a federal court ruling that allowed Kalshi to offer contracts on the US presidential election. The agency gave no clear reason for dropping the challenge; Kalshi continues to face regulatory scrutiny in several states.
The withdrawal leaves the court ruling in place while state-level challenges to Kalshi continue.
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Polymarket US withdrew two filings with the US Commodity Futures Trading Commission on 26 August, one for a contract based on Patrick Mahomes playing in a Kansas City Chiefs game and one covering similar contracts for other NFL players. QCX LLC filed them on 25 August, and the regulator’s register recorded their withdrawal before the proposed listing date. Neither Polymarket US nor the register gave a reason.
Crypto.com stopped offering its sports event contracts in Arizona on 12 December and cancelled them in Michigan, Maryland, Massachusetts, Illinois, New Jersey, Nevada and Ohio, according to the report. The company is not offering any services in New York; contracts remain available in other states. Arizona's Department of Gaming had issued Crypto.com a cease-and-desist letter, the report said.
The Commodity Futures Trading Commission filed a motion for voluntary dismissal of its appeal against Kalshi in the US Court of Appeals for the DC Circuit. Kalshi agreed to waive claims arising from the litigation and related proceedings. The motion follows an earlier appeals court ruling in Kalshi’s favour on its election contracts.
New Jersey has sought more time to ask the US Supreme Court to review a federal appeals court ruling in Kalshi’s prediction-markets case, according to local reporting. The 3rd US Circuit Court of Appeals ruled in April that state gaming regulators could not enforce their order against Kalshi’s sports event contracts; the state’s request for Supreme Court review remains prospective.
Kalshi and New Jersey asked the Third Circuit to pause proceedings after New Jersey informed the company it would appeal the dispute to the US Supreme Court. New Jersey argues that Kalshi’s sports contracts amount to sports betting and that it is operating an unlicensed sportsbook; the Third Circuit had ruled in April that Kalshi was likely to succeed in arguing the state could not dictate its trading.