Kalshi Warns: Election Betting Delay Could Hurt Business

In Brief:

Kalshi says a delay in allowing election betting contracts could harm the company, as it relies on these markets for its future.

Even after winning a lawsuit, Kalshi faces a challenge as the CFTC seeks a 14-day delay to consider an appeal.

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Kalshi Warns: Election Betting Delay Could Hurt Business

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Kalshi, a U.S. prediction market platform, is pushing back against the Commodity Futures Trading Commission's (CFTC) attempt to delay election betting contracts. The company says this delay could harm its business, as it depends on these markets.

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CFTC's Motion and Kalshi's Response

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Kalshi won a lawsuit against the CFTC, which had stopped the company from listing election betting contracts. However, the CFTC now wants a 14-day delay to decide if it will appeal the court's decision. Kalshi argues that this delay would let unregulated competitors take over the market, making it hard for Kalshi to compete.

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The court's decision is still pending, and it could greatly affect Kalshi's future in the prediction market industry.

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