US judge rules CFTC has no right to block Kalshi from launching political prediction market

Odaily Odaily News: Jia Cobb, a federal judge in the District of Columbia, issued a formal opinion, ruling that the U.S. Commodity Futures Trading Commission (CFTC) has no authority to conduct a "public interest review" to prevent Kalshi from listing a political prediction market in the United States. Judge Cobb pointed out that Kalshi's contracts do not involve illegal activities or gambling, but elections, neither of which falls under the jurisdiction of the CFTC. Currently, the U.S. Congress has revoked the CFTC's public review of certain proposed futures contracts, stating that unless these contracts fall into specific categories such as terrorism or gambling. (Coindesk)