The U.S. CFTC withdraws its appeal against the cryptocurrency prediction platform Kalshi

ChainCatcher news, Kalshi posted on platform X that the Commodity Futures Trading Commission (CFTC) has "withdrawn its appeal against the crypto prediction platform." Last year, the CFTC filed a motion attempting to prevent Kalshi from offering prediction markets related to the November elections.

Previously, a federal judge ruled that the CFTC "exceeded its authority" in blocking Kalshi from allowing users to trade contracts. CFTC Commissioner Summer K. Mersinger also stated in February this year, "Election contracts will continue to exist." Kalshi stated, "The election market will continue to exist."