The CFTC has filed an emergency motion to block prediction market Kalshi from launching an election contract within two weeks

After prediction market platform Kalshi won a lawsuit with the U.S. Commodity and Futures Trading Commission (CFTC), the U.S. CFTC filed an emergency motion to try to prevent prediction market Kalshi from listing election contracts for two weeks while the agency processes its appeal. The CFTC believes that Kalshi may list regulated election contracts as early as Tuesday morning after self-certifying the contracts on Monday and waiting for the required one business day. The CFTC is concerned that the CFTC has very limited recourse to stop trading or otherwise discharge the contracts if they begin trading.
Previously, regulated prediction market platform Kalshi won a lawsuit against the CFTC over whether the platform could create predictions for the US election. Kalshi only operates in the United States, and every prediction contract it launches is subject to CFTC approval or review.