Paradigm has stepped up to back Kalshi in its legal battle against the Commodity Futures Trading Commission (CFTC), defending the right to offer prediction markets in the U.S. Congressional elections, and arguing for the critical role such markets play in risk management and information dissemination within the crypto industry.
Legal Battle Brews as Paradigm Supports Kalshi’s Election Prediction Platform Against CFTC
Investment firm Paradigm has thrown its support behind prediction market platform Kalshi in its ongoing legal dispute with the CFTC. The contention arises from the CFTC’s rejection of Kalshi’s proposed market, which would allow participants to speculate on the outcome of U.S. Congressional elections, particularly regarding which party will control each chamber of Congress.
Paradigm submitted an amicus brief last week in favor of