Kalshi stated that the Commodity Futures Trading Commission's motion to delay listing election contracts is "meritless" and would cause "irreparable harm" to the company, emphasizing its commitment to establishing a market for election-related betting.
The company's future hinges on the successful introduction of these betting contracts before the election day, with Kalshi arguing that further delays would be devastating and are viewed as attempts by the CFTC to prolong the process.
Kalshi's lawsuit against the CFTC arose after the agency previously forbade listing contracts regarding congressional control, labeling them unlawful gaming. This led Kalshi to defend its right to operate as a legitimate prediction market.
After winning a ruling from Judge Jia M. Cobb, Kalshi enthusiastically announced the positive outcome on its website, indicating that U.S. election markets were on the verge of becoming a reality for them.
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