tl;dr
The Commodity Futures Trading Commission (CFTC) is filing a motion to shut down Kalshi’s election betting markets after the firm scored a legal victory against the regulator. The CFTC is asking a US court for an emergency stay of a judge’s recent decision to overturn the regulatory body’s order to s...
The Commodity Futures Trading Commission (CFTC) is taking action to halt Kalshi’s election betting markets following a legal triumph over the regulator. Seeking an emergency stay from a US court, the CFTC aims to overturn a judge’s recent decision favoring Kalshi, allowing the company to offer election betting contracts. The urgency stems from Kalshi’s imminent launch of its election betting service, prompting concerns from the CFTC.
Bloomberg reported the judge’s ruling in favor of Kalshi, permitting the firm to proceed with enabling users to bet on the 2024 presidential election results. In response to this development, the CFTC stresses the necessity of the court’s rationale to determine whether to pursue an appeal. With Kalshi poised to initiate its election betting imminently, the CFTC is pushing for a swift grant of the stay to thwart this action.
An influential voice in the crypto sphere, Jake Chervinsky, lauds the judge’s decision as a "huge win" for Kalshi, advocating the strategic use of lawsuits against regulatory encroachment. He emphasizes the significance of having access to the court’s opinion before celebrating this legal victory, highlighting the potency of legal recourse in countering regulatory overreach.
More about Emeren Group Ltd
Stock Analysis Summary Stock Analysis Summary
Company: ReneSola Ltd
Industry: Manufacturing, Semiconductors & Related Devices
Market Cap: 97384000
Revenue: Not Available
Net Income: Not Available
EPS: -0.31
Current Ratio: 1.915
Quick Ratio: -0.163
Volume: 103577000
Dividend Yield: 4.38
Beta: -0.924
PE Ratio: -0.112