The federal court rejected the CFTC's motion and approved the launch of election betting on the prediction market Kalshi

ChainCatcher news, according to The Block, the federal appeals court ruled that the prediction market platform Kalshi can continue to launch contracts to allow election betting.

In an opinion submitted to the U.S. Court of Appeals for the D.C. Circuit, Judge Patricia Millett ruled that the Commodity Futures Trading Commission (CFTC) failed to demonstrate that "if the appeal is not stayed, the public will suffer irreparable harm."

Since the CFTC stated at the end of last year that Kalshi could not offer contracts related to "Congressional control contracts," the CFTC and Kalshi have been in litigation.