Rostin Behnam, chairman of the U.S. CFTC, said the CFTC will continue to advocate that Kalshi's election contracts are illegal, warn of the possible negative impact, and plan to keep a close eye on prediction markets located overseas. Last week, the Federal District Court for the District of Columbia ruled that the CFTC exceeded its authority and prevented Kalshi from listing contracts linked to U.S. elections, but the CFTC appealed the ruling and warned of the risks of election gambling. Behnam said that if the public wants to see the development of election contracts, it should be done under the "gambling system" of the states, not at the federal level. Currently, gambling on political events is illegal in some states in the United States. (The Block)