**Kalshi Triumphs in Court, Launches Political Betting Markets**

Kalshi, a US-regulated prediction marketplace, has launched over a dozen event contracts tied to US political outcomes after winning a landmark court battle in September. These binary options allow traders to bet on everything from the presidential election to Senate races and even NYC Mayor Eric Adams’s potential resignation.

Since listing on Oct. 7, Kalshi's flagship market, "Who will win the Presidential election?" has seen $14 million in betting volume. However, it still trails behind Polymarket, a decentralized platform on the Polygon network, which boasts nearly $2 billion in bets.

Kalshi sued the Commodity Futures Trading Commission (CFTC) in November 2023 for attempting to block its political event contracts. The exchange prevailed in court, with a federal appeals court affirming the decision on Oct. 2. The CFTC argued that such markets could threaten election integrity, but analysts contend they often reflect public sentiment more accurately than polls.

Bloomberg has added Polymarket’s election odds data to its Terminal, further legitimizing these prediction markets. As of Oct. 16, Kalshi's odds favor Donald Trump at 55% over Kamala Harris at 45%, while Polymarket bettors give Trump a 58% chance.