Inside the fight to legalize election betting before the midterms
The CFTC is considering Kalshi's application to launch political betting markets. The agency has previously blocked political event contracts. KALSHI's team of former CFT officials argue the agency had it wrong a decade ago. Intercontinental Exchange supports KALSHI's proposal. The Sacramento Kings co-owner Ranadivé is also backing the application. He believes it will help people hedge against policy shifts that affect the economy. Former CFCAT officials are also supporting Kalshi's campaign. They argue that the concerns aired about election integrity a 10 years ago have not materialized.
