An NY-based company wants to make it legal to bet on US elections. This court may clear the way

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Decision 2024 News

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Who is favorite to win election after last night's debate? Europe gives Kamala the odds.

For those wondering, Vice President Kamala Harris was listed Wednesday as a slight favorite to win the election on the websites of many European bookmakers, who gave her a 54% to 55% probability of prevailing following her performance in Tuesday night's debate.Amid the explosion of legal gambling in the United States, some things have remained off-limits, including betting on the outcome of U.S. elections.

“The commission lost, fair and square, on the law,” Kalshi wrote in a court filing. “It should not be allowed to snatch a procedural victory from the jaws of defeat by running out the clock” until the Congressional elections happen this fall.“As the election nears, Kalshi and the public deserve access to the contracts that the CFTC has blocked for too long already,” the company wrote.

Such bets “could potentially be used in ways that would have an adverse effect on the integrity of elections, or the perception of integrity of elections — for example, by creating monetary incentives to vote for particular candidates,” the agency wrote. Had the judge not agreed to pause the matter until at least Thursday, Kalshi would have been free to list and accept money from customers on its Congressional markets.

 

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