Wanna Put Your Money On Trump Or Harris? Crypto-Based Polymarket Gets Competition After Kalshi Prevails In Court And Resumes Election Betting Contracts

In a landmark development, prediction market Kalshi resumed taking bets on the outcome of the congressional elections after an appeals court lifted a ban on the platform’s operations by the CFTC.

What Happened: The U.S. Court of Appeals for the District of Columbia denied the motion by the CFTC to halt the platform from offering legalized bets while the agency’s appeal of the case it lost to Kalshi in a lower court last month is pending.

Kalshi founder Tarek Mansour took to X to share the news, saying “U.S. presidential election markets are legal. Officially. Finally.”