The Commodities and Futures Trading Commission warns that allowing betting on U.S. election outcomes could lead to manipulation, harming public confidence in electoral integrity.
"An explosion in election gambling on U.S. futures exchanges will harm the public interest," the commission warned, highlighting the risks of misinformation and collusion in the betting markets.
The district court's ruling was seen by Kalshi as permission for election gambling, raising alarms within the trading commission about potential distortions of election integrity.
Past attempts at manipulating predictive markets via misinformation, such as a fake poll about Kid Rock's candidacy, serve as cautionary tales about the dangers of election betting.
#election-integrity #betting-and-gambling #market-manipulation #public-confidence #commodities-futures-trading-commission
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