The CFTC says a federal court judge “mistakenly erred” when it allowed betting market Kalshi to list event contracts for the 2024 US elections.
The district court judge overseeing betting market Kalshi’s suit against the United States Commodities Futures Trading Commission “erred at every turn” when it allowed the platform to list and trade election odds, the regulator says.
In an Oct. 16 filing to a Washington, DC, appeals court, the CFTC said a federal court ignored the “plain meaning” of terms under the Commodity Exchange Act (CEA) and prevented the regulator “without basis” from properly examining certain kinds of transactions.
The regulator argued the court “mistakenly erred” when considering important details on whether Kalshi should be allowed to list political event contracts.
