“The contracts which Plaintiff mischaracterizes as gambling are event contracts offered on the Platform subject to the CEA [Commodity Exchange Act], in conformance with the rules and regulations of the CFTC [Commodity Futures Trading Commission], the federal agency which has statutory authority to oversee the CEA,” Kalshi said.
We contacted Bright’s attorney, Michael Daudt, about Kalshi’s court filings and will update this article if we get a response.
“Plaintiff alleges that his activity on the platform was gambling and that he ‘lost,’” Kalshi wrote. “He does not allege that anyone misled him about how the platform worked, what it charged, or the risk that any position might lose. Yet,
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