A judge ruled on Thursday that the CFTC exceeded its authority by blocking the prediction market Kalshi from listing contracts related to the U.S. election, and Ritchie Torres, a New York Democrat and crypto-friendly lawmaker, said in a letter to the CFTC's chairperson, Rostin Behnam, that the CFTC should "accept the ruling and move forward," noting that many election markets have existed for years but that "trading platforms are less secure and lack oversight."
"In addition, I encourage the CFTC to weigh how much further court action will cost and the broader harm that further delay could cause to electoral integrity and consumer protection," Mr. Torres wrote. "Delay could allow illegal and unregulated markets to continue to gain market share."
Crypto-friendly lawmaker Ritchie Torres calls on CFTC to accept Kalshi ruling and focus on unregulated election markets
2024-09-13 19:12:53
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