A US judge has ruled in favor of Kalshi, allowing the platform to offer derivatives for betting on the upcoming US election. The regulator's order was overturned, marking a significant win for Kalshi. Variant Fund's Jake Chervinsky emphasized the importance of challenging regulatory overreach through lawsuits. Judge Jia Cobb of the US District Court ruled in favor of Kalshi, enabling bets on the election outcome. Kalshi's CEO hailed the decision as a milestone, while others like Nick Tomaino praised the opportunity for greater civic engagement. The CFTC may appeal the ruling. In related news, Gemini urged the CFTC to reconsider a proposed ban on event contracts in decentralized prediction markets. This legal development signifies a shift in the US regulatory landscape regarding election betting and cryptocurrency predictions. Read more AI-generated news on: https://app.chaingpt.org/news