WASHINGTON (AP) — Betting on U.S. elections remains on hold after a federal appeals court did not issue a decision Thursday in a case involving whether such bets should be allowed.
The United States Court of Appeals for the D.C. Circuit heard an appeal by the U.S. Commodities and Futures Trading Commission, which is trying to prevent New York startup company Kalshi from resuming offering bets on the outcome of this fall’s congressional elections.
The three judge panel in Washington heard arguments from the commission that allowing bets on elections will undermine already fragile confidence in elections.
It also heard from Kalshi that robust, fully liquid futures markets inherently work to root out and correct attempted manipulation.
The judges did not give a timetable for a decision, but both sides want one before this fall's election.
Kalshi was briefly allowed last week to take bets on which political party would win control of Congress in November before the appeals court stepped in and halted them.
Kalsi said it took about $50,000 worth of bets, in the form of futures contracts, during the eight hours it was permitted to do so last week.
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
