US citizens can now reportedly use Kalshi to bet on the upcoming election through derivatives after a judge overturned the CFTC's decision. However, the CFTC still has the option to appeal.
A United States judge has ruled in favor of predictions market Kalshi, allowing the platform to offer derivatives for betting on the upcoming US election in November, overturning the regulator's previous order, according to a recent report.
Variant Fund chief legal officer Jake Chervinsky stated in a Sept. 7 X post that it was a “HUGE win” for Kalshi, but he would like to see the judicial opinion first.
“I want to see the opinion before I start dancing on the grave of the administrative state, but this is even more evidence that the best way to deal with regulatory overreach is to FILE MORE LAWSUITS,” Chervinsky added.
