U.S. federal judge rules CFTC overstepped in blocking political prediction markets

A federal judge ruled that the U.S. Commodity Futures Trading Commission (CFTC) exceeded its authority in trying to block Kalshi from listing political prediction markets, CoinDesk reported. Judge Jia Cobb stated that Congress had stripped the CFTC of the power to review certain derivative contracts for public interest, except in specific cases such as terrorism or gaming. The judge rejected the CFTC’s argument that political prediction markets fall under the "gaming" category, finding that these markets do not involve unlawful activities.