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D.C. Circuit issues no decision on Kalshi election betting appeal

Regulation

A three-judge panel of the US Court of Appeals for the D.C. Circuit issued no decision on 19 September 2024 in the CFTC’s appeal over Kalshi’s election betting markets. The CFTC argued the markets could undermine confidence in elections, while Kalshi said futures markets can help identify and correct manipulation; the court gave no decision timetable.

The unresolved appeal leaves the status of Kalshi’s US congressional election betting markets uncertain.

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CFTC drops appeal over Kalshi’s US election contracts

The CFTC voted to abandon its appeal seeking to stop Kalshi from offering contracts linked to US elections. A court filing said the vote was 3-0, with one abstention; Kalshi chief executive Tarek Mansour welcomed the decision, while Better Markets legal director Stephen Hall criticised it over election integrity and investor protection.

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