Kalshi, the cryptocurrency-based prediction market, has experienced a notable uptick in political event betting contracts. This surge follows a favorable ruling for Kalshi in September, where a federal court dismissed the Commodity Futures Trading Commission's (CFTC) effort to prohibit Kalshi from offering contracts on political events. Post-ruling, Kalshi now provides over a dozen political event contracts with over $14 million wagered on the outcome of the U.S. presidential election alone. This surge highlights the growing popularity of political event betting and the increasing role of cryptocurrency in prediction markets.
