The US CFTC has proposed an emergency motion to block the prediction market Kalshi from launching election contracts within two weeks.

Golden Finance reported that after winning a lawsuit against the U.S. Commodity Futures Trading Commission (CFTC), the CFTC has filed an emergency motion to try to prevent the prediction market platform Kalshi from launching election contracts within two weeks, while the agency is handling its appeal. The CFTC believes that Kalshi may launch regulated election contracts as early as Tuesday morning after self-certifying the contracts on Monday and waiting for one business day as required. The CFTC is concerned that if the contracts start trading, it will have very limited ability to halt or otherwise unwind the contracts. Earlier, the regulated prediction market platform Kalshi won its lawsuit with the CFTC, involving whether Kalshi platform can offer predictions for the US elections. Kalshi only operates in the US, and every prediction contract launched on the platform requires approval or review by the CFTC.