According to BlockBeats, on October 18, The Block reported that the U.S. Commodity Futures Trading Commission (CFTC) stated that the U.S. District Court judge’s ruling that the CFTC exceeded its authority and prevented the prediction market Kalshi from providing U.S. election predictions was wrong.

In an appellant brief filed Wednesday with the U.S. Court of Appeals for the District of Columbia Circuit, the Commodity Futures Trading Commission (CFTC) argued that the judgment should be “reversed and the CFTC’s order reinstated.”

BlockBeats previously reported that on September 7, Coindesk reported that the regulated prediction market platform Kalshi won its lawsuit against the CFTC, which involved whether the Kalshi platform could open predictions for the US election. It is reported that Kalshi only operates in the United States and settles transactions in ordinary US dollars. However, every prediction contract it lists is subject to approval or review by the CFTC.