The Commodity Futures Trading Commission (CFTC) is filing a motion to shut down Kalshi’s election betting markets after the firm scored up a legal victory against the regulator. According to new court documents, the CFTC is asking a US court for an emergency stay of a judge’s recent decision to overturn the regulatory body’s order […]
The post CFTC Files Motion To Shut Down Kalshi’s Election Markets After Betting Platform’s ‘Huge Win’ Against Regulator appeared first on The Daily Hodl.
The CFTC asked the court to block Kalshi from offering election betting contracts until it reviews the reasoning for the denial of its order.
The United States regulator has urgently filed an emergency motion to block Kalshi, a US prediction market, from offering election betting contracts. The submission comes just hours after the judge's decision to overturn a previous order halting Kalshi’s election markets.
According to a Sept. 6 court filing, the US Commodity Futures Trading Commission’s (CFTC) requested an “emergency stay” of the court’s decision that overturned its order to prohibit Kalshi from listing its election contracts for trading on that same day.
The regulator requested that the court “stay the vacatur” for 14 days following the issuance of its detailed opinion explaining the denial of the order.
US citizens can now reportedly use Kalshi to bet on the upcoming election through derivatives after a judge overturned the CFTC’s decision.
A United States judge has ruled in favor of the predictions market Kalshi, allowing the platform to offer derivatives for betting on the upcoming US presidential election in November.
Variant Fund chief legal officer Jake Chervinsky stated in a Sept. 7 X post that Kalshi had a “HUGE win,” but he would like to see the judicial opinion first.
“I want to see the opinion before I start dancing on the grave of the administrative state, but this is even more evidence that the best way to deal with regulatory overreach is to FILE MORE LAWSUITS,” Chervinsky added.
With President Biden bowing out of the US 2024 election, the Democrats now have an opportunity to pivot to a more crypto-friendly stance to gain votes, according to lawyer Jake Chervinsky. Chervinsky, the chief legal officer of crypto venture capital firm Variant Fund, says that the Democrats have a good shot at winning back a […]
The post President Biden Steps Aside, Giving Democrats ‘Huge Opportunity’ To Flip Crypto Blue, Says Lawyer Jake Chervinsky appeared first on The Daily Hodl.
Two industry pundits believe a change in SEC Chair is needed to even entertain the idea of a spot Solana ETF.
A spot Solana (SOL) exchange-traded fund in the United States may only be possible with a change in the administration and the head of its securities regulator, according to Bloomberg ETF analyst Eric Balchunas.
On June 27, ETF issuer VanEck made a surprise move to file for a spot Solana ETF with the United States Securities and Exchange Commission.
Matthew Sigel, head of digital assets research at VanEck, said the new fund, called the VanEck Solana Trust, aims to capitalize on Solana’s decentralized nature, high utility and economic feasibility.
Digital asset legal expert Jake Chervinsky thinks the U.S. Securities and Exchange Commission (SEC) is allocating a “grossly disproportionate” amount of resources toward regulating crypto. Chervinsky, the chief legal officer at the crypto fund Variant, blasted the SEC for recently sending out a Wells Notice to Robinhood’s crypto trading arm. A Wells Notice is a […]
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Over the past two days, there has been a notable uptick in concern within the crypto community regarding the U.S. government’s actions toward non-custodial wallets, which facilitate the sovereign storage of crypto assets. Recent events have fueled a widespread belief that a targeted campaign against non-custodial wallets is now underway. Debate Over Crypto Wallet Regulation […]
Jake Chervinsky, CLO of Variant, a crypto-focused venture capital firm, explained that he was pessimistic about U.S. regulators approving a spot ether ETF this May. Chervinsky stated that the SEC’s combative attitude, willingness to go to court to fight this kind of approval, and lack of details on the initiative, signaled a bad outcome for […]
The House Financial Services Committee of the U.S. Congress has advanced a resolution that seeks to disavow SEC SAB 121, a bulletin that leaves banks and financial institutions out of the cryptocurrency custody provider market. However, the resolution, advanced with bipartisan support, is unlikely to be passed at a vote on the House floor, according […]
A cybersecurity expert is endorsing Senator Elizabeth Warren’s anti-crypto legislation proposal, saying that it would cut down on scams. According to a new press release, Warren, a Democrat representing Massachusetts, asked cybersecurity expert Steve Weisman during a special Senate hearing on Aging if her proposed legislation would help cut down on crypto scams. Weisman responded […]
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