"The trust and confidence of American people in our election system is at a very low point. The last thing we need is for people to be incentivized to interfere with the election process," says Dennis Kelleher, president and CEO of Better Markets. This underscores the broader concern that allowing betting on elections may exacerbate existing vulnerabilities in the electoral process.
"Judge Jia Cobb ruled in favor of Kalshi, overturning the CFTC prohibition. At a hearing... the judge denied a motion for delay meant to buy the CFTC time to appeal, which means betting may now begin." This quote highlights the landmark decision enabling a new era of betting on election outcomes in the US.
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