Following a loss in a lawsuit brought against them by prediction market platform Kalshi, regulators are now attempting a last-ditch effort.
Late on Friday, the Commodity Futures Trading Commission filed an emergency motion seeking a temporary delay of the judge’s ruling that favored Kalshi.
This delay would prevent Kalshi from launching any election markets for at least two weeks.
The CFTC had previously banned Kalshi from offering contracts betting on which party would control each house of Congress in the November election, claiming it was considered illegal.
Kalshi then sued the CFTC, arguing that their decision was unfair. In a ruling on Friday, Judge Jia M. Cobb of the US District Court of the District of Columbia ruled in favor of Kalshi, but did not provide her reasoning, stating that it would be included in a later published opinion.
