Donald Trump Jr-backed Kalshi is in the clear, CFTC withdraws appeal
The post Donald Trump Jr-backed Kalshi is in the clear, CFTC withdraws appeal appeared on BitcoinEthereumNews.com. The U.S. Commodity Futures Trading Commission (CFTC) has finally decided to dismiss its appeal against Kalshi, a derivatives trading platform, in a case that saw the agency debating the legality of election event contracts. According to reports, the CFTC filed a motion on May 5, 2025, with the D.C. Circuit Court to voluntarily dismiss its appeal in its case against Kalshi. The filing indicated that the CFTC and Kalshi agreed to the dismissal, and both parties chose to take care of their respective legal costs and fees. The CFTC did not share details about the reason for the withdrawal of the appeal. However, the decision was reportedly made after a 3-0 vote by the commission (with one commissioner abstaining) to drop the case. Election markets are here to stay. Prediction markets have been banned, censored, limited, and pushed out for decades. This win solidifies their right to exist and thrive. It really took a village. Thank you to everyone who was part of this, who stuck with us through the hard… pic.twitter.com/q0x6wlwVhe — Tarek Mansour (@mansourtarek_) May 5, 2025 The CFTC is dismissing the case voluntarily The CFTC previously blew hard against Kalshi’s offering of event contracts that allowed betting on events like the U.S. election. In a defense of its stance, it argued that such contracts could threaten the democratic process or constitute “gaming” outside the agency’s jurisdiction. In September 2024, a federal district court judge in Washington, D.C., ruled in favor of Kalshi, giving it the right to offer these contracts. The appeal about to be dismissed was the CFTC’s response to that ruling. The dismissal does not come as a surprise to many as it was expected given the new administration’s more friendly disposition towards prediction platforms. There’s also the fact that Kalshi now has ties to…
The post Donald Trump Jr-backed Kalshi is in the clear, CFTC withdraws appeal appeared on BitcoinEthereumNews.com.
The U.S. Commodity Futures Trading Commission (CFTC) has finally decided to dismiss its appeal against Kalshi, a derivatives trading platform, in a case that saw the agency debating the legality of election event contracts. According to reports, the CFTC filed a motion on May 5, 2025, with the D.C. Circuit Court to voluntarily dismiss its appeal in its case against Kalshi. The filing indicated that the CFTC and Kalshi agreed to the dismissal, and both parties chose to take care of their respective legal costs and fees. The CFTC did not share details about the reason for the withdrawal of the appeal. However, the decision was reportedly made after a 3-0 vote by the commission (with one commissioner abstaining) to drop the case. Election markets are here to stay. Prediction markets have been banned, censored, limited, and pushed out for decades. This win solidifies their right to exist and thrive. It really took a village. Thank you to everyone who was part of this, who stuck with us through the hard… pic.twitter.com/q0x6wlwVhe — Tarek Mansour (@mansourtarek_) May 5, 2025 The CFTC is dismissing the case voluntarily The CFTC previously blew hard against Kalshi’s offering of event contracts that allowed betting on events like the U.S. election. In a defense of its stance, it argued that such contracts could threaten the democratic process or constitute “gaming” outside the agency’s jurisdiction. In September 2024, a federal district court judge in Washington, D.C., ruled in favor of Kalshi, giving it the right to offer these contracts. The appeal about to be dismissed was the CFTC’s response to that ruling. The dismissal does not come as a surprise to many as it was expected given the new administration’s more friendly disposition towards prediction platforms. There’s also the fact that Kalshi now has ties to…
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