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Yes, You Can Now Bet on Elections in the US
A US judge has overturned a moratorium that stopped gambling companies from letting people bet on election results.
A federal judge has cleared the way for betting on election results in the US for the first time in the modern era, overturning a prohibition imposed on gambling companies by the Commodities Futures Trading Commission, a financial regulator. In November, the CFTC was sued in the District of Columbia by New York-based Kalshi, which operates a predictions market that allows users to bet on the outcome of various events, from the volume of recorded bird flu cases to the number of cars produced by Tesla. In the written ruling, Judge Cobb sided with Kalshi on the belief that the CFTC had “exceeded its statutory authority” in using its jurisdiction over gaming to stand in the way of election betting.
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