CFTC to Review Prediction Market Kalshi’s Contracts to Bet on Control of Congress

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CFTC to Review Prediction Market Kalshi’s Contracts to Bet on Control of Congress
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The CFTC is getting set to go another round with prediction market Kalshi's contract submission to allow user to place bets on the outcome of U.S. congressional elections. jesseahamilton reports

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but recently withdrew that original request, and the exchange is now returning to the agency with a new submission.

These particular cash-settled, binary contracts would allow users to predict and bet on which parties would have majority control of each of the two chambers of Congress. The prediction markets – which allow people “to buy and sell contracts on whether events are going to happen or not,” as Kalshi describes it on its site – have had a tumultuous recent history with the CFTC. Other companies had been ordered to cease doing business in the U.S., such as Polymarket and PredictIt, which has been

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