Federal Judge Clears Way for Betting on U.S. Elections in Predictions Market Case

Axios

There are now two election-related betting contests legally trading on events-based marketplace Kalshi, following an opinion by a federal judge in favor of the company.

Why it matters: Hundreds of millions of dollars has already been wagered on this year’s U.S. election, but all of those bets were made in a legal grey area, one that seems to have just become a lot more clear.

Catch up quick: Kalshi, a startup predictions market where people can place wagers on real-world events, had sued the Commodities Futures Trading Commission (CFTC) for seeking to block it from offering a market for election outcomes.

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