Prediction Market Kalshi Requests Court to Keep Political Market Open Pending Appeal
CryptoNewsTerminal Staff13 Sep, 2024
Prediction Market Kalshi Requests Court to Keep Political Market Open Pending Appeal
Kalshi, a prediction market platform, has requested a U.S. court to allow it to continue operating its political event market while it appeals a previous unfavorable ruling. The Commodity Futures Trading Commission (CFTC) had previously attempted to ban Kalshi from offering such a market, but a federal court deemed it an "unconstitutional overreach of authority." Kalshi argues that prohibiting them from providing this market during the appeal process would result in substantial financial losses and effectively grant the CFTC the relief it seeks without due process. The company emphasizes the importance of allowing the market to operate until the appeal is resolved to avoid irreparable harm.
