The Commodity Futures Trading Commission announced Friday that it has blocked an application by the exchange KalshiEX LLC to issue "event contracts" that would pay investors who bet on which party will control the House and Senate after the 2024 elections.ĬFTC Chair Rostin Behnam said in a Friday statement that federal law requires his agency to evaluate such proposals to determine whether they violate any individual state laws and are in the public interest, and that Kalshi's failed both tests. The results of next year's federal elections are anything but certain, but one thing is known for sure: Americans won't legally be allowed to bet on the outcomes. Commodity Futures Trading Commission chair worries political-betting contracts could turn agency into an 'election cop'
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