The Fate of Election Betting Rests with the Federal Courts

Yesterday afternoon, oral arguments were heard in Kalshi v. CFTC before a three-judge panel at the Court of Appeals for the District of Columbia. The case also raises important questions about financial market innovation, the breadth of the CFTC's jurisdiction and the congressional response to agency action. While there has not yet been a legislative response to the Kalshi decision, Congress continues to hold hearings and consider legislative proposals to promote innovation in financial markets.

Read the alert.