The Latest Breaking News from Kalshi

This week, there’s a certain irony to our newsletter being called “At the Races.” And no, it’s not because Pete Rose, Major League Baseball’s all-time hits leader who was banned from baseball for betting on the Cincinnati Reds, died​ Monday at age 83. Betting on the outcome of the congressional…

Betters have already poured hundreds of millions of dollars into the political prediction market

The popular betting site may also launch a native token.

The Commodities and Futures Trading Commission opposes betting on U.S. elections to safeguard against market manipulation and protect election integrity.

The CFTC was concerned about the propagation of activities not in the best interest of the public. It also drew concerns over unlawful gaming.

A federal judge ruled in favor of New York-based Kalshi, allowing the financial institution to offer bets on the outcomes of congressional races in some states

A federal judge's ruling may pave the way for legal gambling on U.S. elections, impacting the industry and regulators.

The predictions market Kalshi successfully sued the Commodity Futures Trading Commission, which might appeal the ruling.

Critics are concerned platforms like Kalshi’s plans to offer bets on upcoming elections could sway the outcome.

With its bid to let Americans wager on elections put on ice by federal watchdogs, Kalshi Inc. is now shopping a plan to let hedge funds easily wager millions of dollars on more real-life events.

Election betting markets are often more reliable than pundits. Did the site steal user funds? No. Did they lie to people? No. Harm anyone? No.