Only Congress Can Ban Election Betting, Kalshi Tells Appeals Court in New Filing

After Cobb issued her decision, the CFTC requested that she stay her order while they appealed it. Cobb declined to do so. When the regulator then asked a U.S. federal appeals court to temporarily block the election-related events contracts, the appeals court also declined, issuing a unanimous decision denying the CFTC’s emergency motion to stay and arguing that the CFTC had provided “no concrete basis” to conclude that election contracts could harm the public interest.