CFTC Tells DC Circ. Election Bets Turned Kalshi Into 'Casino'

By Aislinn Keely

The Commodity Futures Trading Commission has told the D.C. Circuit that trading platform KalshiEx LLC "promptly turned its futures exchange into an online casino" when courts gave it the green light to list election contracts, urging the appeals court to overturn a lower court decision that the contracts don't involve unlawful gaming.

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