The U.S. CFTC filed an emergency motion to block the prediction market Kalshi from launching election contracts within two weeks

ChainCatcher news, after winning the lawsuit against the U.S. Commodity Futures Trading Commission (CFTC) on the prediction market platform Kalshi, the U.S. CFTC has filed an emergency motion attempting to block the launch of election contracts on the prediction market Kalshi within two weeks, while the agency is handling its appeal. The CFTC believes that Kalshi could launch the regulated election contracts as early as Tuesday morning after self-certifying the contracts on Monday and waiting the required one business day. The CFTC is concerned that if the contracts begin trading, its ability to halt trading or otherwise rescind the contracts will be very limited.

Previous news, the regulated prediction market platform Kalshi won its lawsuit against the CFTC regarding whether Kalshi could offer predictions for the U.S. elections. Kalshi operates solely in the U.S., and each prediction contract it launches must be approved or reviewed by the CFTC.