We may be entering a new chapter in the gamification of American politics: election betting.
The Commodity Futures Trading Commission (CFTC) recently considered whether to allow a company called Kalshi Inc. to open the first U.S.-based election betting market, according to reporting by The Wall Street Journal.
Election betting is a sticky business. It opens all manner of ethical questions, including incentives for buying and selling votes. And it’s currently illegal in most places. According to the sports book Draft Kings, only two U.S.-based markets have recently allowed election betting, both receiving exemptions to do so by the CFTC because they can be used for research purposes. In August, one of those exemptions was revoked.
