Posted on 10/02/2024 11:32:16 AM PDT by RandFan
A federal appeals court in Washington, D.C., cleared the way Wednesday for Americans to bet on the outcome of the 2024 congressional elections — and potentially other federal election contests.
The appeals court in a decision rejected an effort by the Commodity Futures Trading Commission to prohibit the commodities exchange KalshiEx from offering “Congressional Control Contracts” while the federal agency appealed a lower court’s ruling that had given a green light for such bets.
The CFTC argues that the contracts might cast doubt on the integrity of elections.
But the commission “has failed to at this time to demonstrate that it or the public will be irreparably injured” without a stay on the contracts being offered during its appeal, wrote Judge Patricia Millett of the U.S. Appeals Court for the District of Columbia Circuit in its 15-page ruling Wednesday.
Millett, who was part of a three-judge panel considering the case, said the agency could renew its emergency bid to block the contracts pending resolution of the appeal “should substantiating evidence arise.”
There were no dissents on decision in favor of KalshiEx, which offers customers contracts that can hedge the risk of certain events occurring.
The contracts at issue in the case are bets on predictions on which political party will control the Senate and House of Representatives at a future specified date.
(Excerpt) Read more at cnbc.com ...
I believe that its stuff like this that really opens the door to court filings if election fraud is alleged. You know, it’s not considered a big deal if it’s just a coup against the actual winner. That’s just something you have to shrug off.
But now it would be financial fraud against gamblers who lost money. They have standing. They can file. Courts have to take it seriously.
I don’t think being able to legally bet on US elections is a good idea. b/c some bettors who happen to already be wealthy, could unduly influence the vote via advertising or otherwise lobbying for a particular side.
But, who’s asking me? No one.
The public will have to taste it first, in order to know that it’s poison. Let them taste it. “Free country”, more or less.
So now the people have ‘standing’ when they go to court to contest the stolen election?
Gambling is a sin to many here but on the flip side many like me are libertarians.
What’s good IMO is an unconstitutional agency getting slapped down by a DC Court.
The Respondent must have good lawyers and deep pockets.
💪💪💪
Good ideas. Cheating on the hapless American stooges who think they are “voting” and “having their votes counted” is one thing.
But hurting the cash flow of big gamblers?
It just ain’t healthy. Know-what-I-mean? Fuhhhhgggeddabout it.
Except those guys might roll over if they get their cut.
True. Country comes last to all the players.
“It’s a big club and you and are not in the club.”
George Carlin.
Let Freedom Reign....I put 50 bucks on Kneepads and Knucklehead for the loss.
What does the “smart money” say?
agreed. government should not be spending a dime to regulate this nonsense. who gives a ** if someone wants to waste their $$ betting on elections?
the rats have been fixing elections since 1960 so i don’t think a betting platform will make a difference.
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