Activist Group Says Kalshi’s Election Market Should Be Shut Due to 'Manipulative' Whales

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Marc Hochstein is CoinDesk's Deputy Editor-in-Chief for Features, Opinion, Ethics and Standards. He holds BTC above CoinDesk's disclosure threshold of $1K and de minimis amounts of other digital assets (details in bio).

That hasn't stopped Better Markets, an activist group that advocates for stricter financial regulations, from citing activity on Polymarket as one reason to stop Kalshi from letting traders make political bets.filed Wednesday supporting the Commodity Futures Trading Commission's appeal of a case the regulator lost to Kalshi, Better Markets noted recent reports about a handful of Polymarket accounts that have made bets worth tens of millions on Donald Trump winning the presidency.

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