On Wednesday, a D.C. court ruled betting markets legal in the U.S., allowing election gambling for the first time in nearly 100 years.
With the overturning of the Chevron deference precedent, regulators are now effectively restrained from interpreting laws according to their discretion, opening up new avenues for industries like betting.
Judge Jia Cobb's ruling in favor of Kalshi relied on the recent Supreme Court opinion in Loper Bright, showcasing the direct impact of high court decisions on lower court rulings.
The implications of legal election betting remain uncertain, especially during politically charged times, raising questions about market influence and regulation.
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