Reported 27 days ago
A U.S. federal judge has permitted the use of derivatives for betting on election outcomes, notably striking down a previous ruling by the Commodity Futures Trading Commission that prohibited such contracts. The judge determined that the contracts proposed by KalshiEX LLC are not illegal gambling, asserting that they provide a platform for market predictions regarding political events. The ruling has raised concerns among some financial advocates who caution that it may lead to excessive gambling on U.S. elections and undermine public trust in the electoral process.
Source: YAHOO