CFTC Withdraws Appeal Against Crypto Prediction Platform Kalshi

According to Odaily, the U.S. Commodity Futures Trading Commission (CFTC) has withdrawn its appeal against the crypto prediction platform Kalshi. Last year, the CFTC filed a motion to prevent Kalshi from offering prediction markets related to the November elections. A federal judge previously ruled that the CFTC had overstepped its authority in attempting to block Kalshi from allowing users to trade contracts. In February of this year, CFTC Commissioner Summer K. Mersinger stated that election contracts would continue to exist. Kalshi has affirmed that the election market will persist.