“The CFTC Appealed A Federal Judge’s Ruling Last Year Clearing Kalshshi’s Listening of A Political Predict Market, Arguing that It Preseted a “Profound” Harm to the Public.”, – WRITE: www.coindesk.com
Under The Conditions of the Motion for Voluntary Dismissal, Whos Still Subject to Court Approval, Both Parties Will Pay Their Own Legal Costs and Kalshi Warys.
“Today is Historic. We Have Always Believed that Doing Things The Right Way, No Matter How How, No Matter How Painful, Pays Off. This Result Is Proof of that,” “Kalshi’s Approach Has Official and DEFINITIVELY Secured the Future of Predict Markets in America.”
Kalshi’s Fight with the CFTC Began in 2023, WHEN The REGULATOR DENIED KALSHIshi’s Plan to Let Users Bet on Wich Party Wound Control the Chambers of Congress. At the Time of the Denial, the Cftc – Ten Under the Leadership of Former Chair Rostin Behnam – Claiimed that Such Contracts Involved Unlawful Gaming and Were “Contrary.”
That november, Kalshi Sued The CFTC in Washington, DC, Claiming that the CFTC Had Oversteped ITS Authority in Attempting to Block the Contracts, and Asking a Judge to Vacate. The Court Sides Kalshi in September 2024, Clearing the Way for the Platform To List The Political Contracts.
ImmediaTely after loming the Case, The CFTC Scrambled to Undo The District Judge’s Decision. IT Applied for A 14-Day Stay of the Order-Basical, A Two-Week Delay on Kalshi’s Ability to List The Contracts Whtc Prepared for an appeared-and was denied. THEN, IT FILED an appeal, reitecture Many of the Same Arguments It Had used in itts Original Defense.
However, Shortly After Oral Arguments in Early January, US President Donald Trump Returned to Office. His Eldest Son, Don Jr., JOINED KALSHII AS A Strategic Advisor on January 13. Rob Schwartz, The CFTC’s General Counsel at the Time The Appeal Was Filad, Left The Agen Inter. March.
Under the Leadership of Acting Chair Caroline Pham, The Agency Has Changed ITS Approach to Crypto, Cutting Several pieces Forces Down to Just Two, In An Effort to Simplify It Regulation and Enforcement of the Crypto Industry.
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