CFTC To Continue Pursuit of Case Against Kalshi
CryptoNewsTerminal Staff17 Sep, 2024
CFTC To Continue Pursuit of Case Against Kalshi
The chairman of the US Commodity Futures Trading Commission (CFTC), Rostin Behnam, has stated that the agency will continue to pursue its case against predictive market Kalshi. This comes after a recent court ruling that blocked the CFTC's attempt to ban Kalshi from operating its political event prediction markets. “It is illegal and we are going to continue to pursue that case,” Behnam said during a financial policy event at Georgetown University, according to CoinDesk. He added that if election betting is deemed a useful market that should be allowed to exist, it should be regulated at the state level as a gambling industry. The CFTC had previously said that it intends to appeal the court's decision.
