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Only Congress Can Ban Election Betting, Kalshi Tells Appeals Court in New Filing

Kalshi blasted the regulator’s attempt to create a “Goldilocks” definition of gaming that would include elections as “arbitrary, outcome-driven gerrymandering with no basis in the statute," in its ongoing defense against the CFTC's move to ban its prediction markets.

U.S. Commodity Futures Trading Commission Chairman Rostin Behnam (Jesse Hamilton/CoinDesk)
U.S. Commodity Futures Trading Commission Chairman Rostin Behnam (Jesse Hamilton/CoinDesk)