After just a few hours, U.S. election bets put on hold by appeals court ruling
Headline Legal News
Just hours after it began, legal betting on the outcome of U.S. Congressional elections has been put on hold by a federal appeals court.
The Court of Appeals for the District of Columbia Circuit issued an order Thursday night temporarily freezing the matter until it can consider and rule on the issue. No timetable was initially given.
The court acted at about 8:30 p.m. Thursday, mere hours after a federal judge cleared the way for the only bets on American elections to be legally sanctioned by a U.S. jurisdiction.
U.S. District Court Judge Jia Cobb permitted New York startup company Kalshi to begin offering what amounts to bets on the outcome of November elections regarding which parties win control of the House and Senate.
The company’s markets went live soon afterwards, and Kalshi accepted an unknown amount of bets, which it called “contracts.”
The Thursday night order put a halt to any further such bets. What might happen to those already made was unclear Friday.
Neither Kalshi nor the commission immediately responded to messages seeking comment Friday.
The ruling came after the Commodity Futures Trading Commission appealed Cobb’s ruling, warning that allowing election bets, even for a short period of time, risked serious harm from people trying to manipulate the election for financial purposes.
The Thursday night order put a halt to any further such bets. What might happen to those already made was unclear Friday.
Neither Kalshi nor the commission immediately responded to messages seeking comment Friday.
The ruling came after the Commodity Futures Trading Commission appealed Cobb’s ruling, warning that allowing election bets, even for a short period of time, risked serious harm from people trying to manipulate the election for financial purposes.
Related listings
-
Hearing in Karen Read case expected to focus on jury deliberations
Headline Legal News 08/09/2024Defense attorneys for Karen Read are expected to argue Friday that two charges in the death of her Boston police officer boyfriend be dismissed, focusing on the jury deliberations that led to a mistrial.Read is accused of ramming into John O’Ke...
-
Giuliani Disbarred in N.Y. for Wrongdoing During Trump’s 2020 Campaign
Headline Legal News 07/07/2024Rudy Giuliani, the former New York City mayor, federal prosecutor and legal adviser to Donald Trump, was disbarred in New York on Tuesday after a court found he repeatedly made false statements about Trump’s 2020 election loss.The Manhattan app...
-
Special Education Lawyers in Connecticut
Headline Legal News 07/06/2024Knowledge of your child’s special education rights will help ensure that their unique needs are met. It is critical to be knowledgeable about laws, regulations, and school procedures impacting your child’s access to the general curriculum...
Is Now the Time to Really Call a Special Education Lawyer?
IDEA, FAPE, CHILD FIND and IEPs: The Individuals with Disabilities Education Act (IDEA) guarantees all children with disabilities to a free appropriate public education (FAPE). FAPE starts with a school’s responsibility to identify that a child has a disability (Child Find) and create an Individualized Education Program (IEP) to suit the needs of the child. Parents need to be persistent, dedicated and above all else aware of the many services and accommodations that their child is entitled to under the law. As early as this point within your child’s special education, many parents will often find themselves in the situation asking, “is now the time to really call a special education lawyer.” Here are a few things to consider when asking yourself that question.
Business News
404
Not Found
The resource requested could not be found on this server!