The US CFTC withdraws its appeal against the encryption prediction platform, Kalshi states "election contracts will continue to exist"

[CFTC withdraws appeal against encryption prediction platform, Kalshi claims ‘election contracts will continue to exist’] Kalshi posted on the X platform stating that the Commodity Futures Trading Commission (CFTC) has ‘withdrawn its appeal against the encryption prediction platform.’ Last year, the CFTC submitted a motion attempting to prevent Kalshi from offering prediction markets related to the November elections. A federal judge previously ruled that the CFTC ‘exceeded its authority’ in blocking Kalshi from allowing users to trade contracts. CFTC Commissioner Summer K. Mersinger also stated this February that ‘election contracts will continue to exist.’ Kalshi stated, ‘The election market will continue to exist.’