CFTC Commissioner: Election prediction markets on platforms like Kalshi “will continue to exist”

Odaily Planet Daily News U.S. CFTC Commissioner Summer K. Mersinger said at a webinar for the conservative legal organization The Federalist Society on Tuesday that election campaign contracts on platforms such as Kalshi "will continue to exist." Mersinger said at the cryptocurrency-focused webinar: "Congress can always tell us different situations. Of course, we will make adjustments and do what they ask. But in terms of how the commission will deal with it in the future, unless rules are made to change the status quo, election contracts will continue to exist, and we will have to adapt to this environment and market. I think this is a good thing." Mersinger discussed whether the election event prediction market will affect the fairness of the election, and said that "these contracts have a lot of safeguards to ensure that certain manipulations do not occur. I think we have to carefully review these contracts because they are online, but the days when we can unilaterally say 'no' and say that everything is a game are gone, and the commission will have to take a new approach. We must be more supportive of innovation and understand that some things may look different from what we know or what we are used to, but different is not bad." She pointed out that these platforms are practical. (The Block)