From Cointelegraph
May 6, 2025 4:55 PM:

The US Commodity Futures Trading Commission (CFTC) seeks to drop appeal against prediction market Kalshi, potentially allowing platform to offer political event contracts to users uncontested. CFTC filed motion for voluntary dismissal on May 5, indicating agreement with Kalshi. Kalshi agrees to bear own costs if motion is approved by the court.

Platform Kalshi confident “election markets are here to stay” following joint filing with CFTC. Lawsuit initially filed by Kalshi in 2023 after regulator ordered cessation of political event contracts. Lower court ruled in favor of Kalshi, prompting CFTC appeal in September 2024. Potential appeal withdrawal after change in administration?

Acting CFTC chair Caroline Pham, appointed by Trump, oversaw case mainly pre-election. Commissioner Summer Mersinger, nominated by Biden, supports prediction markets. Kalshi gains popularity among crypto users for 2024 US election bets. CFTC argued against election betting due to market manipulation risks, but appears to reverse stance with dismissal motion.

Read more at Cointelegraph: US regulator moves to drop appeal against Kalshi