ATLANTIC CITY, N.J. (AP) — Amid the explosion of legal gambling in the United States, some things have remained off-limits, including betting on the outcome of U.S. elections.
But that could be about to change.
A federal judge in Washington has struck down a decision by the Commodity Futures Trading Commission to prohibit a company from offering what amounts to bets on the outcome of Congressional elections.
Last Friday, U.S. District Court Judge Jia Cobb ruled in favor of New York-based Kalshi, but did not detail her reasoning.
The judge paused the matter until after a planned hearing Thursday, when the court will presumably outline the rationale for its decision. It also could rule on the agency’s request for a two-week delay in the case.
“The commission lost, fair and square, on the law,” Kalshi wrote in a court filing. “It should not be allowed to snatch a procedural victory from the jaws of defeat by running out the clock” until…
