Kalshi rolls out political betting contracts for Trump presidency

November 7, 2024 Coin Telegraph

Circle

The prediction market has listed contracts for betting on events, including a prospective Trump impeachment.

Prediction marketplace Kalshi has rolled out more markets for betting on United States political events in a bid to keep engagement high after the Nov. 5 presidential election.

The contracts cover outcomes ranging from how President-elect Donald Trump will staff his administration to whether he will be impeached during his presidency, according to regulatory filings with the US Commodity Futures Trading Commission.

Bettors flocked to political prediction platforms ahead of the US elections, with betting volumes tied to the presidential race nearing $4 billion as of election day on Nov. 5, according to a Cointelegraph analysis.

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Regulated Prediction Market Kalshi Partners With Zero Hash for USDC-Based Account Funding

October 29, 2024 Bitcoin.com

bitcoin.com

Kalshi, a CFTC-regulated prediction market, has partnered with crypto platform Zero Hash to streamline account funding using USDC. Zero Hash and Kalshi Collaborate on New Account Funding Solution Kalshi, a prediction market regulated by the Commodity Futures Trading Commission (CFTC), is collaborating with Zero Hash to offer streamlined account funding for its users. Through this […]

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Prediction markets are not being manipulated — Kalshi founder

October 21, 2024 Coin Telegraph

2024 election

The most recent Polymarket odds put Trump's chances of winning the 2024 Presidential election at 60.3% and winning all six swing states.

Former President Trump's 20-point lead over Vice President Kamala Harris on Polymarket has sparked manipulation concerns. Tarek Mansour — the founder of the Kalshi prediction market — recently argued that these results were accurate and not the result of inorganic manipulation by presenting comparable data from Kalshi.

Mansour began by dispelling the media claim that a handful of large whales are skewing the odds in favor of Trump. According to the Kalshi founder, "The median bet size on Harris is larger than the median bet size on Donald Trump," with the median bet size for Harris coming in at $85 compared to Trump's $58.

The founder also explained that more individuals on the Kalshi platform are placing bets on Trump, and the 20-point lead reflected on Polymarket roughly tracks with the number of individuals betting Trump will win the November election on Kalshi.

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Crypto.com’s US exchange lists 4 memecoin derivatives

October 8, 2024 Coin Telegraph

Bonk

Traders can now hedge exposure to memecoins including PEPE and FLOKI.

Crypto.com’s North American derivatives exchange, Nadex, has listed derivatives contracts tied to memecoins including PEPE and FLOKI, according to Oct. 7 filings with the United States Commodity Futures Trading Commission (CFTC).

Nadex has also listed derivatives products tied to Dogelon Mars (ELON) and BONK, according to the filings.

The combined market capitalization of the four memecoins underlying Nadex’s contracts is nearly $7 billion, according to CoinMarketCap.

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DC Circuit Court Rules Kalshi’s US Election Bets Legal

October 6, 2024 Bitcoin.com

bitcoin.com

This week, the U.S. Court of Appeals for the District of Columbia Circuit has ruled in favor of the predictions market Kalshi, allowing the commodities exchange to offer event contracts based on the outcome of U.S. congressional elections. Circuit Judge Millett’s opinion supports the legality of the contracts, dismissing claims of gaming or election gambling. […]

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‘Explosion’ in election gambling will harm public interest: CFTC

September 16, 2024 Coin Telegraph

Appeal

The US commodities regulator says prediction markets can be vulnerable to “spectacular manipulation.”

The United States Commodity Futures Trading Commission says prediction markets can fall to “spectacular manipulation” in the latest filing against US predictions market Kalshi.

“Documented cases of market manipulation have already been realized in the very markets Kalshi points to,” the CFTC stressed, pointing to recent incidents on competitor platforms in the Sept. 14 reply in support of a motion to stay.

Polymarket experienced a “spectacular manipulation” attempt by a group of traders gambling on Vice President Kamala Harris to win the 2024 US presidential election, claimed the CFTC, while a “fake poll” showing Kid Rock leading Senator Debbie Stabenow 30% to 26% in a senate vote on PredictIt impacted the price of Stabenow’s reelection contract.

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CFTC Files Motion To Shut Down Kalshi’s Election Markets After Betting Platform’s ‘Huge Win’ Against Regulator

September 9, 2024 The Daily Hodl

Betting

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.

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CFTC submits emergency motion to block Kalshi’s election betting contracts

September 8, 2024 Coin Telegraph

Coin Telegraph

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.

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