Yes, You Can Now Bet on Elections in the US

Quick Summary:

A US judge has overturned a moratorium that stopped gambling companies from letting people bet on election results.

In May, the agency proposed new rules that would make election betting explicitly illegal, classifying it as a type of gaming—a practice over which it has some jurisdiction.

But in its lawsuit, Kalshi argued that election-related event contracts—the type of betting instrument in question—are a valuable tool for businesses hoping to hedge against a political outcome that might be unfavorable to them.

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Article Details

Author / Journalist: Joel Khalili

Category: TechnologyEconomy

Markets: United StatesMali

Topics: Business Politics

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-12 @ 16:34:09 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: wired.com

Language: English

Article Length: 976 words

Reading Time: 6 minutes read

Sentences: 38 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Wired

News ID: 22474190

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About Wired

Main Topics: TechnologyEconomy

Official Website: wired.com

Update Frequency: 14 posts per day

Year Established: 1993

Headquarters: United States

News Last Updated: 9 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Publisher ID: #111

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