Share this article
CFTC to Review Prediction Market Kalshi’s Contracts to Bet on Control of Congress
The U.S. derivatives regulator has scheduled a June 26 meeting to discuss starting another review to evaluate whether to approve Kalshi’s event contracts.
Updated Jun 16, 2023, 10:57 p.m. Published Jun 16, 2023, 10:57 p.m.
The Commodity Futures Trading Commission will decide on June 26 whether to start a formal 90-day review of prediction market provider KalshiEX’s contract that allows users to bet on which party takes control of the U.S. Congress.
The CFTC oversees the company as a designated contract market, and 90-day reviews are the legal process by which the agency can approve or reject contracts. Kalshi had submitted the contract for CFTC review last year but recently withdrew that original request, and the exchange is now returning to the agency with a new submission.
STORY CONTINUES BELOW
These particular cash-settled, binary contracts would allow users to predict and bet on which parties would have majority control of each of the two chambers of Congress.
The prediction markets – which allow people “to buy and sell contracts on whether events are going to happen or not,” as Kalshi describes it on its site – have had a tumultuous recent history with the CFTC. Other companies had been ordered to cease doing business in the U.S., such as Polymarket and PredictIt, which has been fighting the CFTC in court since last year.
Read More: Prediction Market Kalshi Signals It Sees CFTC's Blessing for Midterm Election Bets
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
U.S. FDIC proposes first U.S. stablecoin rule to emerge from GENIUS Act
The banking regulator began its formal rulemaking process to set up the procedures by which depository institutions can start stablecoin subsidiaries.
What to know:
- The Federal Deposit Insurance Corp., which regulates thousands of banks in the U.S., has issued its first proposal of a rule governing the application process for issuing stablecoins.
- The propsoal would effect depository institutions that want to set up subsidiaries for issuing the dollar-backed tokens.
Top Stories
