Wednesday, November 01, 2023

An online-trading startup sued the Commodity Futures Trading Commission for denying its application to launch a political election-betting market

You bet, there are so many ways to bet!

"Kalshi’s lawsuit might help determine if Americans could bet significant amounts of money on whether Republicans or Democrats will capture the House or Senate. The company says its market for derivatives contracts would enable investors to hedge against political risk—in some cases with trades as big as $100 million. The CFTC declined to comment; the agency previously has been reluctant to weigh in on what it sees as a sensitive question for U.S. democracy. Several states outlaw gambling on elections, though small-stakes bets are possible through various venues."

Trading Startup Sues Regulator in Effort to Launch Election-Betting Market - WSJ Lawsuit comes after Commodity Futures Trading Commission rejected Kalshi’s election-betting proposal

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