The CFTC warned that the district court's decision may lead to 'an explosion in election gambling' on U.S. futures exchanges, undermining public interest.
Legal experts believe the district court ruling could undermine the CFTC's proposal to ban election contracts entirely, raising concerns over regulatory power.
Alex Thorn noted that with the Supreme Court's Loper Bright decision, federal agencies may face limitations on their power, potentially affecting the crypto industry.
The CFTC described claims regarding financial losses from Kalshi as 'deeply misleading,' asserting that the public harm from election gambling far outweighs these losses.
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