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PredictIt Lawsuit: How a Battle Over Venue Might Determine the Fate of US Election Betting

January 31, 2024 | By: Alex Weldon

PredictIt and its co-plaintiffs have asked a federal court in Texas to postpone the case’s transfer to the District of Columbia while petitioning the Fifth Circuit Court of Appeals to intervene. The US District Court for the Western District of Texas ordered the transfer on Jan. 16, 2024, at the request of the Commodity Futures Trading Commission (CFTC). In […]

Senators Oppose Latest Political Futures Effort by Kalshi

August 14, 2023 | By: Robyn McNeil

A renewed effort by retail-focused futures provider Kalshi to offer markets on congressional elections currently before the Commodity Futures Trading Commission (CFTC) has attracted the scrutiny of watchdogs and lawmakers, including Senators Elizabeth Warren, Jeff Markley, and Dianne Feinstein. Kalshi is a regulated exchange that allows customers to trade on the outcome of events. Examples […]

Fifth Circuit Court of Appeals Issues Order Against Mootness in PredictIt Case

May 3, 2023 | By: Alex Weldon

In a memorandum dated May 1, the three-judge panel of the US District Court for the Western District of Texas declared that the lawsuit to determine the fate of PredictIt should continue. Circuit judges James E. Graves, James C. Ho, and Kyle Duncan denied the “suggestion of mootness” filed by the Commodity Futures Trading Commission (CFTC), the defendant in the case. The CFTC […]

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