Legal tracker / Kalshi v. CFTC (election contracts)
Case · as of Oct 15, 2026
Kalshi v. CFTC (election contracts)
For the exchanges Kalshi won; CFTC appeal abandoned
Judge Jia M. Cobb vacated the CFTC's 2023 order blocking Kalshi's congressional-control contracts, holding they do not involve 'gaming' or unlawful activity under the CEA's special rule for event contracts. The D.C. Circuit refused to stay that ruling on Oct. 2, 2024, letting Kalshi list election contracts; the CFTC's appeal was later abandoned under the Trump-era Commission. The stay denial let Kalshi list congressional-control contracts ahead of the 2024 election.
Case record last checked against its sources on Apr 2, 2026.
| Case | KalshiEX LLC v. Commodity Futures Trading Commission |
| Court | U.S. District Court for the District of Columbia; U.S. Court of Appeals for the D.C. Circuit |
| Docket | 1:23-cv-03257-JMC (D.D.C.); 24-5205 (D.C. Cir.) |
| Filed | 2023-11 |
| Type | Challenge to a regulator |
| Companies | Kalshi |
| Other side | Commodity Futures Trading Commission |
| Last action | : CFTC abandoned its D.C. Circuit appeal under new Commission leadership |
History
Newest first.
| Date | What happened |
|---|---|
| Oct 16, 2024 | CFTC filed its opening brief (last docket-verified appellate event). |
| Oct 2, 2024 | D.C. Circuit (Millett, Pillard, Pan, JJ.) denied the CFTC's motion for a stay pending appeal. |
| Sep 12, 2024 | District court memorandum opinion granting Kalshi summary judgment and vacating the CFTC order. |
| Sep 12, 2024 | CFTC appeal docketed in D.C. Circuit; court entered an administrative stay. |
| Sep 22, 2023 | CFTC disapproved Kalshi's congressional control contracts. |
Sources
Kalshi v. CFTC (election contracts): questions
What is the status of Kalshi v. CFTC (election contracts)?
Kalshi won; CFTC appeal abandoned. Judge Jia M. Cobb vacated the CFTC's 2023 order blocking Kalshi's congressional-control contracts, holding they do not involve 'gaming' or unlawful activity under the CEA's special rule for event contracts. The D.C. Circuit refused to stay that ruling on Oct. 2, 2024, letting Kalshi list election contracts; the CFTC's appeal was later abandoned under the Trump-era Commission. The stay denial let Kalshi list congressional-control contracts ahead of the 2024 election.
What happened most recently in Kalshi v. CFTC (election contracts)?
: CFTC abandoned its D.C. Circuit appeal under new Commission leadership
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