Kalshi, a trading platform for political prediction markets, has argued before a U.S. appeals court that election betting is beneficial for the public. The company contended that only Congress has the authority to regulate such betting, pushing back against the Commodity Futures Trading Commission (CFTC), which has sought to impose restrictions on political event contracts. A federal court had previously ruled in favor of Kalshi, rejecting the CFTC's attempts to block its operations. In related news, the CFTC's chair announced that the agency would not finalize rules banning political event contracts, further supporting Kalshi's position.