CFTC Staff Recommends Rejecting Kalshi's US Election Contracts: Bloomberg

Commissioners would still need to vote on the advice.

By Nick Baker

Oct 28, 2022 at 10:18 p.m. UTC

Updated Oct 31, 2022 at 5:06 p.m. UTC

Commodity Futures Trading Commission CFTC logo (Mark Van Scyoc/Shutterstock)

Nick Baker

Nick Baker is CoinDesk's deputy editor-in-chief. He owns small amounts of BTC and ETH.

Follow @inkbacker on Twitter

Prediction market Kalshi's request to create contracts linked to U.S. election outcomes should be rejected, according to staff of the regulator weighing the request, Bloomberg reported.

Their recommendations are not binding. Commissioners at the U.S. Commodity Futures Trading Commission ultimately decide, though staff members' advice carries weight.

Read more about

regulations Prediction Markets CFTC

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.