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The U.S. Commodity Futures Trading Commission (CFTC) has requested a federal appeals court to expedite a hearing in a case that will determine if Americans can legally use derivatives contracts to bet on U.S. election outcomes. The CFTC argues that election contracts are susceptible to market manipulation. This follows an earlier loss in court. Meanwhile, financial exchange platform Kalshi is involved in a legal battle with the CFTC over the operation of its betting market. Kalshi's case highlights the ongoing regulatory challenges faced by companies in the financial and crypto sectors.
This is only possible because Kalshi sued the CFTC over their initial denial of the congressional control market. Suing your main regulator is not a choice for the faint of heart, but something companies operating at the edge must be willing to do. Crypto knows this https://t.co/CKOYmQIJ4v
CRYPTO STARTUP CHALLENGES SEC’S ‘REGULATORY LAND GRAB’ Lejilex is battling the SEC in Texas, claiming they’re here to help with crypto, not sell securities. They’re calling the SEC’s moves a “massive regulatory land grab” and want the court to give them the go-ahead to launch… https://t.co/WXy2exAD9r
CRYPTO STARTUP FIGHTS BACK AGAINST SEC'S REGULATORY OVERREACH Crypto startup Lejilex is clashing with the SEC in a Texas federal court, accusing the agency of a "massive regulatory land grab" as they seek a ruling that their planned crypto exchange won’t violate securities laws.… https://t.co/7FbqPxy3yW
