Current:Home > ScamsNo decision made by appeals court in elections betting case-InfoLens
No decision made by appeals court in elections betting case
View Date:2024-12-23 15:31:11
WASHINGTON (AP) — Betting on U.S. elections remains on hold after a federal appeals court did not issue a decision Thursday in a case involving whether such bets should be allowed.
The United States Court of Appeals for the D.C. Circuit heard an appeal by the U.S. Commodities and Futures Trading Commission, which is trying to prevent New York startup company Kalshi from resuming offering bets on the outcome of this fall’s congressional elections.
The three judge panel in Washington heard arguments from the commission that allowing bets on elections will undermine already fragile confidence in elections.
It also heard from Kalshi that robust, fully liquid futures markets inherently work to root out and correct attempted manipulation.
The judges did not give a timetable for a decision, but both sides want one before this fall’s election.
Kalshi was briefly allowed last week to take bets on which political party would win control of Congress in November before the appeals court stepped in and halted them.
Kalsi said it took about $50,000 worth of bets, in the form of futures contracts, during the eight hours it was permitted to do so last week.
veryGood! (4478)
Related
- Jimmy Kimmel, more late-night hosts 'shocked' by Trump Cabinet picks: 'Goblins and weirdos'
- Five people, dog killed after RV and semi collide on Pennsylvania interstate
- Subway offered free subs for life if you changed your name to 'Subway'. 10,000 people volunteered.
- Hall of Fame coach Dennis Erickson blames presidents' greed for Pac-12's downfall
- 4 arrested in California car insurance scam: 'Clearly a human in a bear suit'
- Michigan mom is charged with buying guns for son who threatened top Democrats, prosecutors say
- Batiste agrees to $2.5 million settlement over dry shampoo. How to claim your part.
- Auto shoppers may be getting some relief as 2023 finally sees drop in new car prices
- GM recalling big pickups and SUVs because the rear wheels can lock up, increasing risk of a crash
- I've spent my career explaining race, but hit a wall with Montgomery brawl memes
Ranking
- Get Your Home Holiday-Ready & Decluttered With These Storage Solutions Starting at $14
- Average long-term US mortgage rate climbs to 6.96% this week, matching highest level this year
- Irish mourners say goodbye to Sinéad O'Connor
- Sixto Rodriguez, musician subject of 'Searching for Sugar Man,' dies at 81
- Why Josh O'Connor Calls Sex Scenes Least Sexy Thing After Challengers With Zendaya and Mike Faist
- Irish mourners say goodbye to Sinéad O'Connor
- Hilary Swank Proves She’s Living Her Best “Cool Mom” Life With Glimpse Inside Birthday Celebration
- A yearlong slowdown in US inflation may have stalled in July
Recommendation
-
NFL Week 10 injury report: Live updates on active, inactive players for Sunday's games
-
Man dies of heat stroke in Utah's Arches National Park while on a trip to spread his father's ashes, family says
-
Austin Majors, former child star on 'NYPD Blue,' cause of death ruled as fentanyl toxicity
-
Elgton Jenkins tossed out of Packers-Bengals joint practice for fighting
-
Champions Classic is for elite teams. So why is Michigan State still here? | Opinion
-
Ring by ring, majestic banyan tree in heart of fire-scorched Lahaina chronicles 150 years of history
-
Big Ten, Big 12 conference realignment has thrown college sports for a loop. What's next?
-
NFL preseason games Thursday: Times, TV, live stream, matchup analysis