Comment Text:
Based on the law, public policy, and the facts, the CFTC should reject this request to essentially make gambling on federal elections legal and protect democracy, markets, and investors. The law expressly prohibits ‘gaming’ contracts like the one proposed and, therefore, the CFTC should reject Kalshi’s request. The law also requires the CFTC to reject contracts that are illegal under state law, and more than a dozen states protect the integrity of elections by outlawing gambling on elections. The proposal should also be rejected as against public policy. Democracy and elections are foundational principles for the country and are not appropriate subjects for gambling and betting.
