US election 2024 betting: Federal Court makes big announcement. Details here
US congressional elections, albeit on a temporary basis. A federal appeals court said that betting on the US congressional election can be resumed on a temporary basis.
The U.S. Court of Appeals for the District of Columbia Circuit has lifted a prior injunction that prohibited New York startup company Kalshi from betting on which political party will control the House and Senate following the election, which will happen in November. The recent rule of the U.S. Court of Appeals has cleared the way for restarting the betting activity, and the court continues to deliberate on the core issues surrounding the case, which means that the court is taking time to analyze the implications and legalities, as per ABC News.
Kalshi has only offered betting on congressional races, but there is no immediate indication that Kalshi is planning to broaden its betting options to feature presidential elections. As the political climate heats up, stakeholders are eager to see whether the platform will diversify its offerings in the near future. The court has declared that it will reconsider a ban willingly only if the relevant commission presents evidence that is a threat of serious harm to the interests of the public in the coming week.
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Proposal of Kalshi
An attorney of Kalshi Yaakov Roth gave a statement that the betting company has received the green signal to restart taking bets. However, according to Yaakov Roth, it is yet to be clear whether the company has
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