ChainCatcher News: US Judge Rules CFTC Cannot Block Political Prediction Market

According to CoinDesk, US District Judge Jia Cobb issued a formal opinion ruling that the US Commodity Futures Trading Commission (CFTC) does not have the authority to conduct a "public interest review" to block Kalshi from listing its political prediction market in the United States.

Judge Cobb stated that Kalshi's contracts do not involve illegal activities or gambling, but rather focus on elections, neither of which fall under the CFTC's jurisdiction.

Currently, the US Congress has revoked the CFTC's authority to publicly review certain proposed futures contracts, stating that it will only do so if the contracts fall under specific categories like terrorism or gambling.