Kalshi emphasized that if denied the opportunity to trade its political contracts during the CFTC's appeal, the company would encounter substantial, possibly irreparable harm. They stated, "A stay will deny Kalshi significant revenue derived from trading these contracts. Indeed, a stay would strip the Congressional Control Contracts of any value derived from the current election cycle - which will be over long before this appeal concludes." This highlights the potential financial impact and urgency for the company.
The court decision allows Kalshi to explore a market for trading Congressional Control Contracts. Kalshi argued that delaying the trading would not harm the CFTC significantly, stating, "in effect, a stay would allow the CFTC to win in practice even though it lost in court." This outlines their position that the CFTC’s apprehensions should not hinder Kalshi’s operations.
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