The U.S. regulatory agency moves to withdraw the appeal against Kalshi

This prediction platform stated that "the election market will continue to exist" in a social media post after the Commodity Futures Trading Commission filed a request with the court.

The U.S. Commodity Futures Trading Commission (CFTC) is seeking permission from the court to withdraw its appeal against the Kalshi prediction market. This move could allow the platform to offer political event contracts to users without opposition.

In a filing submitted on May 5 to the U.S. Court of Appeals for the District of Columbia, CFTC lawyers submitted an unopposed motion to voluntarily dismiss, proposing an agreement with Kalshi. This move, subject to court approval, could end the CFTC's appeal against the federal court ruling that the financial regulator cannot prohibit Kalshi from listing political event contracts, namely betting on elections.

Kalshi stated in a joint filing that the company will "bear the costs, court fees, and attorney fees incurred" if the court approves the CFTC's motion to dismiss. The platform indicated that "the election market will exist" in a post on May 6 after filing the documents.

The initial betting platform had sued the CFTC in 2023 in response to the regulator's order for Kalshi to stop offering political event contracts. The company won the case in lower court, prompting the CFTC to appeal in September 2024. #CFTC