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(Washington, DC) — Betting on the 2024 election will be allowed. A federal appeals court made the ruling, going against the Commodity Futures Trading Commission. The government agency argued that allowing betting could undermine election integrity.
Oregon Senator Jeff Merkley agrees. He says allowing gambling on U.S. elections puts democracy at risk, and that it opens the door for wealthy gamblers to launch misinformation campaigns to influence the outcome of an election.
The Commission asked the court to block the prediction exchange platform Kalshi from offering bets on which party will control each house of Congress. The site advertises itself as “a regulated exchange & prediction market where you can trade on the outcome of real-world events.”
Meanwhile, there’s a new law to help fight addictive gambling in New York State. Governor Kathy Hochul signed legislation that requires all advertisements for gambling and sports betting to include warnings about the potential harmful and addictive effects of gambling. Previously, these ads only had to include a phone number to call for a gambling problem.
