Kalshi Wins Legal Battle to Offer US Election Betting Derivatives

#uselections #USElections2024 #USelection #USLawmakers #BinanceSquareFamily

A U.S. judge has ruled in favor of Kalshi, allowing the prediction market to offer derivatives for betting on the upcoming November US election.

This decision overturns the CFTC’s order, which had claimed that such betting could compromise election integrity and is illegal in some states.

Variant Fund’s Jake Chervinsky hailed it as a "HUGE win" but is waiting to review the judicial opinion. Kalshi’s co-founder, Tarek Mansour, celebrated the ruling, marking the first legal election markets in the U.S. in 100 years.

The CFTC has the option to appeal the decision. Meanwhile, Kalshi offers various prediction contracts, including Bitcoin and Ether price movements.