According to Odaily Planet Daily, the US CFTC warned that "election betting activities are about to explode" and asked the appeals court to extend the suspension of Kalshi's political prediction market. The CFTC said in a document on Saturday that the district court's order was interpreted by Kalshi and others as an open season for election betting. Recently, Jia Cobb, a federal judge in the District of Columbia, issued a formal opinion, ruling that the CFTC had no right to conduct a "public interest review" to prevent Kalshi from listing a political prediction market in the United States. Judge Cobb pointed out that Kalshi's contracts did not involve illegal activities or gambling, but about elections, neither of which fell within the jurisdiction of the CFTC. Currently, the US Congress has revoked the CFTC's public review of certain proposed futures contracts, saying that unless these contracts fall into specific categories such as terrorism or gambling. The CFTC pointed out that after this decision, Interactive Brokers, a heavyweight Wall Street broker, announced that it would offer contracts on presidential elections through a subsidiary regulated by the CFTC. The agency said other CFTC-regulated exchanges will follow suit unless the U.S. Court of Appeals for the District of Columbia extends its suspension of Kalshi contracts pending appeal. The CFTC reiterated that the harms include market manipulation and “harm to election integrity.”