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CFTC Staff Recommends Rejecting Kalshi's US Election Contracts: Bloomberg
Commissioners would still need to vote on the advice.
Prediction market Kalshi's request to create contracts linked to U.S. election outcomes should be rejected, according to staff of the regulator weighing the request, Bloomberg reported.
Their recommendations are not binding. Commissioners at the U.S. Commodity Futures Trading Commission ultimately decide, though staff members' advice carries weight.
STORY CONTINUES BELOW
Read more: Prediction Market Kalshi Signals It Sees CFTC's Blessing for Midterm Election Bets
Nick Baker
Nick Baker was CoinDesk's deputy editor-in-chief. He won a Loeb Award for editing CoinDesk's coverage of FTX's Sam Bankman-Fried, including Ian Allison's scoop that caused SBF's empire to collapse. Before joining in 2022, he worked at Bloomberg News for 16 years as a reporter, editor and manager. Previously, he was a reporter at Dow Jones Newswires, wrote for The Wall Street Journal and earned a journalism degree from Ohio University. He owns more than $1,000 of BTC and SOL.
