CFTC withdraws appeal against crypto prediction platform, Kalshi says "election contract will continue"

Kalshi wrote on the X platform that the US Commodity Futures Trading Commission (CFTC) has "withdrawn its appeal against crypto prediction platforms". Last year, the CFTC filed a motion to try to prevent Kalshi from providing prediction markets related to the November election. After a federal judge ruled that the CFTC "exceeded its authority" in blocking Kalshi from allowing users to trade contracts. CFTC Commissioner Summer K. Mersinger also said in February: "Election contracts will continue to exist." Kalshi said: "Election markets will continue to exist."