According to Cointelegraph, U.S. regulators filed an emergency motion to block Kalshi from offering election betting contracts, just after a judge overturned an order banning Kalshi’s election market.
On September 6, the CFTC requested an emergency stay from the court on its decision to overturn its order, arguing that a detailed explanation from the court was needed to make an informed decision.
The CFTC said it could not decide whether to appeal or fully prepare any pending stay motion without the court’s reasons.
The CFTC believes that time is of the essence and expects Kalshi to immediately launch the relevant election contracts and begin trading.
On the same day, a District of Columbia court judge ruled that Kalshi could offer election betting products.