US judge allows election betting, dealing blow to markets regulator
Friday 13 de September 2024 / 12:00
⏱ 2 min read
(New York).-On Thursday, a federal judge allowed Americans to use derivatives to bet on events like U.S. election outcomes, delivering another setback to the regulator in charge of overseeing the market.
KalshiEX LLC, a predictions marketplace, wanted to offer contracts allowing users to bet on which party will control the House and Senate in a given term.
But the U.S. Commodity Futures Trading Commission prohibited Kalshi from listing and clearing its cash-settled political event contracts due to concerns about unlawful gaming and other activities not in the public's interest.
Kalshi later sued, saying the CFTC exceeded its authority.
In her opinion released Thursday just weeks ahead of the Nov. 5 presidential and congressional elections, District Court Judge Jia Cobb wrote that Kalshi's contracts don't involve unlawful activity or gaming, rather elections which are neither.
"This case is not about whether the Court likes Kalshi's product or thinks trading it is a good idea," Cobb stated. "The Court's only task is to determine what Congress did, not what it could do or should do. And Congress did not authorize the CFTC to conduct the public interest review it conducted here."
The CFTC did not immediately respond to a request for comment.
Kalshi CEO and co-founder Tarek Mansour told Reuters in a written statement, "Now is finally the time to allow these markets to show the world just how powerful they are at providing signal amidst the noise and giving us more truth about what the future holds."
Following the court's decision, Cantrell Dumas, director of derivatives policy at Better Markets, a nonprofit promoting public interest in financial markets, said the ruling prioritizes corporate profit over public interest.
"Allowing Kalshi's political event contracts is a dangerous move that opens the floodgates to unprecedented gambling on U.S. elections, eroding public trust in both markets and democracy," said Dumas.
By Laura Matthews
Categoría:Legislation
Tags: Sin tags
País: United States
Región: North America
Event
SiGMA North America 2026
01 de September 2026
Evert Montero Analyzed Colombia's Gaming Regulation at SiGMA
(Mexico City) — Speaking at SiGMA North America 2026, FECOLJUEGOS President Evert Montero Cárdenas offered a deep dive into the regulatory shifts shaping the Latin American and North American markets. He highlighted the sustainability challenges ahead for Colombia's industry and the ongoing impact of technological innovation. A major highlight of the September 1-3 summit at Mexico City’s Centro Banamex was Montero's induction into the Hall of Game 2026.
Friday 11 Sep 2026 / 12:00
Sportradar highlights LATAM growth at SiGMA North America
(Mexico City, SoloAzar Exclusive).- Rodrigo Cambiaghi, Sales Executive Lead, Digital Advertising at Sportradar, highlighted the strategic importance of Mexico and the broader Latin American market during SiGMA North America 2026. Held from September 1–3 at Centro Banamex in Mexico City, the event brought together nearly 2,250 delegates and focused on artificial intelligence, innovation, public-private collaboration and the adaptation of global strategies to local market dynamics.
Friday 11 Sep 2026 / 12:00
AIEJA Highlights Success of SiGMA North America in Mexico
(Mexico City, SoloAzar Exclusive).- Dr. Miguel Ángel Ochoa Sánchez, Executive President of AIEJA, underscored the success of the inaugural SiGMA North America in Mexico, noting its crucial role in elevating the local gaming industry on the global stage. Speaking at the event—held September 1-3 at Mexico City's Centro Banamex—he also broke down key regulatory hurdles, strategies to combat illegal gambling, and emerging opportunities within the sector.
Wednesday 09 Sep 2026 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.
