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You Can Now Legally Bet On the 2024 Congressional Elections
A U.S. District Court judge on Thursday allowed New York-based startup Kalshi to legally offer betting on the outcome of the November Congressional elections (Warning: source paywalled; alternative source), despite opposition from the Commodity Futures Trading Commission (CFTC), which plans to appea...
Fortune reports: A startup company on Thursday began taking what amounts to bets on the outcome of the November Congressional elections after a judge refused to block them from doing so. It enabled, at least temporarily, New York-based Kalshi to offer prediction contracts -- essentially yes-or-no bets -- on which party will win control of the Senate and the House in November. But Raagnee Beri, an attorney for the commission, said allowing such bets could invite malicious activities designed to influence the outcome of elections and undermine already fragile public confidence in the voting process.
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