Election betting: Appeals court fast-tracks CFTC challenge to Kalshi political bets
Publishing timestamp: 2024-10-14 21:02:08
Summary
Federal appeals court fast-tracks CFTC's case challenging Kalshi's right to offer political election contracts. Kalshi and Interactive Brokers are offering bets on presidential election, Senate races, and party control of Congress. Kalshi has booked over $7 million in contracts on the presidential race. CFTC argues that election contracts are susceptible to manipulation and pose a risk to election integrity. Kalshi CEO is confident in the legality of election contracts. Appeals court lifted injunction on Kalshi, allowing them to resume offering contracts. Interactive Brokers also began offering political contracts with substantial demand.
Sentiment: MIXED
Tickers: IBKR,
Keywords: government and politics, commodity futures trading commission, voting, 2024 united states presidential election, washington d.c., breaking news: markets, gambling, breaking news: politics, markets, business, donald trump, interactive brokers group inc, elections, courts, united states, laws, business news, politics, kamala harris,
Source: https://www.cnbc.com/2024/10/14/election-bets-appeals-court-fast-tracks-cftc-vs-kalshi-case.html