2024-9-14 07:14 |
The U.S. Commodity Futures Trading Commission appealed its loss against prediction markets platform Kalshi to the D.C. Appeals Court late Thursday.
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After the U.S. Commodity Futures Trading Commission's court defeat last week in the agency's pursuit of Kalshi's election contracts, the regulator's chairman, Rostin Behnam, said it will still keep pursuing the case against what it continues to contend is illegal activity.
Nearly $1 billion has been bet on the crypto-based prediction market. Plus: are you ready for 20x leveraged election betting?
The regulator pleaded with the court to halt Kalshi's political prediction markets for the duration of the CFTC's appeal.
The agency plans to appeal the case brought by the trading platform, and could still ask the higher court to stop the firm from listing the contracts.
Here's how to listen to Thursday's hearing in the closely watched federal court case over political prediction markets, and why it matters.
As markets continue to evolve and integrate with Web3 — from DeFi to gaming — we're likely to see an explosion of creativity.