CFTC Pleads With Judge to Block Kalshi Election Contracts for 14 Days
A stay request, if approved, would prevent Kalshi from listing its election markets until late September. The company settles trades in U.S. dollars and has been unable to capitalize on this year’s election betting surge. Polymarket, a cryptocurrency-based competitor, has been dominating the market but is restricted from serving U.S. residents due to an agreement with the CFTC.
The delay in launching its election markets could have significant implications for Kalshi’s business strategy. With Polymarket currently holding a strong position in the market, Kalshi may face challenges in capturing market share once it is able to list its election markets. The company’s ability to attract traders and generate revenue could be impacted by the delay, potentially affecting its long-term growth prospects.
Despite the setback, Kalshi remains optimistic about its future prospects. The company has been working to expand its product offerings and enhance its platform to attract a wider range of traders. With a strong focus on innovation and customer service, Kalshi is committed to establishing itself as a leading player in the election betting market.
