The CFTC is getting set to go another round with prediction market Kalshi's contract submission to allow user to place bets on the outcome of U.S. congressional elections. jesseahamilton reports
but recently withdrew that original request, and the exchange is now returning to the agency with a new submission.
These particular cash-settled, binary contracts would allow users to predict and bet on which parties would have majority control of each of the two chambers of Congress. The prediction markets – which allow people “to buy and sell contracts on whether events are going to happen or not,” as Kalshi describes it on its site – have had a tumultuous recent history with the CFTC. Other companies had been ordered to cease doing business in the U.S., such as Polymarket and PredictIt, which has been
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