Overview

• The US Court of Appeals for the District of Columbia Circuit allowed Kalshi to offer betting on which political party will control Congress after this year's elections.
• The ruling temporarily lifts a previous ban, enabling Kalshi to resume its congressional control contracts while the court considers broader issues.
• The Commodity Futures Trading Commission (CFTC) argued that such betting could harm election integrity, but the court found no immediate evidence of irreparable harm.
• Kalshi's legal team argues that the platform provides valuable data for election forecasting and allows individuals to hedge economic risks associated with election outcomes.
• Critics, including Better Markets, warn that election betting could incentivize manipulation and undermine public trust in the electoral process.