U.S. CFTC Files Emergency Motion to Prevent Kalshi from Listing Election Prediction Contracts
The U.S. Commodity and Futures Trading Commission (CFTC) has filed an emergency motion seeking to block prediction marketplace Kalshi from listing election contracts for two weeks while the agency handles an appeal.
The motion was filed before a judge announced the dismissal of the lawsuit and allowed Kalshi to list prediction contracts related to the 2024 election. The CFTC, in its motion filed at midnight last night, asked for an emergency stay of the judge's ruling for at least two weeks to allow the agency to pursue its appeal.
Paradigm, a crypto venture capital firm, has reportedly filed an amicus brief in support of Kalshi's lawsuit, noting that there are two main benefits to offering such contracts. “First, they allow parties directly affected by political outcomes to mitigate risk by hedging. Second, they provide information that allows the public to better predict (and thus plan for) a given outcome.”
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Deutsche Bank: After the three major central banks hiked rates simultaneously, the market may once again underestimate the terminal interest rate
Deutsche Bank points out that as central banks in the US, Europe, and Japan are tightening policy simultaneously, the market may still be underpricing the eventual terminal rates. With oil prices remaining high, inflation may spill over into core inflation and wages. Moreover, financial conditions have not tightened in tandem, which could weaken the effect of rate hikes. Citing the experience of 2022, Deutsche Bank notes that the market then expected a total of around 200 basis points of Fed rate hikes in the first year, but the final figure exceeded 400 basis points, illustrating that the market often underestimates the terminal rate.
Crypto prices
More
