U.S. Election Betting: CFTC Loses Last-Minute Bid to Halt Kalshi Contract

“The election gambling contracts pose significant public interest risk,” the CFTC’s lead attorney said during Thursday’s hearing. “The Commission noted serious concerns about potential adverse effects on election integrity, or the perception of election integrity, at a time where confidence in election integrity is incredibly low. These contracts would give market participants a $100 million incentive to influence either the market or the election, which could very certainly undermine confidence in election integrity. This is a very serious public interest threat.”