Kalshi says CFTC has withdrawn appeals to its forecast market platform and election contracts “will become the norm”

PANews May 7 news, according to The Block, the crypto forecasting market platform Kalshi said that the U.S. Commodity Futures Trading Commission (CFTC) has withdrawn its previous appeal against its offer of election forecasting market services. In 2024, the CFTC tried to prevent Kalshi from launching a contract related to the presidential election, but a federal judge ruled that the move exceeded its authority. Kalshi has since continued to expand its business and reached a partnership with Robinhood in April this year, while filing lawsuits against Nevada and New Jersey regulators to counter the ban on its sports contracts. CFTC member Mersinger once said that election contracts "will become the norm" and regulators need to adapt to this new market pattern. Kalshi currently supports users to deposit their accounts in USDC.