“Without
the
benefit
of
the
Court’s
reasoning,
the
CFTC
is
unable
to
make
an
informed
decision
whether
to
appeal,
nor
is
it
able
to
fully
brief
a
motion
for
stay
pending
any
forthcoming
appeal,”
the
agency
wrote.
If
granted,
the
stay
would
mean
Kalshi
wouldn’t
be
allowed
to
list
its
election
markets
until
late
September
at
the
earliest.
The
company,
which
settles
trades
in
U.S.
dollars,
has
been
locked
out
of
this
year’s
election
betting
boom,
dominated
by
crypto-based
rival
Polymarket,
which
is
barred
from
serving
U.S.
residents
under
its
own
settlement
with
the
CFTC.
A
Kalshi
spokesperson
did
not
immediately
respond
to
a
request
for
comment
late
Friday.