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Kalshi wins court case against CFTC to launch election betting market

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Kalshi Inc. has secured a big win in the court to launch its $100 million betting market on the 2024 US elections.

A federal judge ruled against the Commodity Futures Trading Commission , which had sought to block the firm’s election-based event contracts.

CFTC argued that allowing such contracts could impact the integrity of the upcoming US Presidential election, leading to market manipulation.

Despite the win, CFTC has appealed the decision, leaving open the possibility of further legal battles.