BlockBeats news, on October 18, The Block reported that the U.S. Commodity Futures Trading Commission (CFTC) stated that the U.S. District Court judge was wrong when he ruled that the CFTC exceeded its authority and prevented the prediction market Kalshi from providing U.S. election predictions.
In an appellant brief filed Wednesday with the U.S. Court of Appeals for the District of Columbia Circuit, the U.S. Commodity Futures Trading Commission (CFTC) argued that the judgment should be “overturned and the CFTC order reinstated.”
BlockBeats previously reported that on September 7, according to Coindesk, the regulated prediction market platform Kalshi won its lawsuit against the CFTC, which involved whether the Kalshi platform can make predictions for the US election. It is reported that Kalshi only operates in the United States and settles transactions in ordinary US dollars. However, every forecast contract it lists is subject to approval or review by the CFTC.
