ChainCatcher reported that according to CoinDesk, Jia Cobb, a federal judge in the District of Columbia, issued a formal opinion, ruling that the U.S. Commodity Futures Trading Commission (CFTC) had no authority to conduct a "public interest review" to prevent Kalshi from listing a political prediction market in the United States.
Judge Cobb noted that Kalshi’s contracts did not involve illegal activity or gambling, but rather elections, neither of which falls under the CFTC’s jurisdiction.
Currently, the U.S. Congress has revoked the CFTC's right to publicly review certain proposed futures contracts, saying that unless the contracts fall into specific categories such as terrorism or gambling.
