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US judge allows Kalshi congressional election contracts as CFTC plans appeal

Regulation

A US judge allowed Kalshi to offer contracts on which parties will control the House and Senate in November, and the company began taking positions, according to the report. The Commodity Futures Trading Commission said it would appeal the ruling, which temporarily permits the contracts across the country. Kalshi had not said whether it would offer contracts on the presidential election.

Kalshi may offer congressional control contracts for now, but the CFTC’s appeal leaves their regulatory status unsettled.

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Enforcement & compliance

Kalshi fines and suspends three congressional candidates over election wagers

Kalshi said it fined and suspended three US congressional candidates for five years after they wagered on their own election outcomes. The company said Mark Moran was fined more than $6,200, while Matt Klein and Ezekiel Enriquez faced penalties above $530 and $780, respectively; Klein and Enriquez reached agreements with Kalshi, but Moran did not. The candidates also addressed the wagers publicly, with Klein apologising and Moran saying he acted to draw attention to the issue.

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