The U.S. Commodity Futures Trading Commission (CFTC) has decided to drop its appeal of a court ruling, allowing Kalshi to offer bets on U.S. election outcomes, signaling the end of a two-year legal dispute. The CFTC's motion to withdraw the appeal was filed following a vote and comes amidst a shift in federal regulation under President Trump, who has appointed pro-crypto officials. Kalshi’s founder celebrated the decision, stating that it validates the existence of election markets. The two parties will share attorney fees incurred during the lawsuit. Kalshi had previously sought regulatory approval to launch contracts based on congressional race outcomes but was initially denied. This led to a lawsuit, resulting in a ruling that permitted Kalshi to proceed with offering election-related betting contracts. The platform has since integrated digital assets, making strides to attract crypto traders ahead of the upcoming U.S. elections, further intensifying the competition in the predictions market.

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