Today, Common Cause urged the Commodity Futures Trading Commission (CFTC) to reject a request to legalize gambling on U.S. election outcomes. In a filing in response to the CFTC’s request for public comment, Common Cause emphasized that KalshiEX, LLC (“Kalshi”)’s proposed Congressional control event contract posed “new and profound threats to the integrity of our democracy and our elections.”
“Americans expect and deserve free and fair elections and to legalize gambling on the outcomes would introduce extremely dangerous and completely unnecessary risks to the process,” said Marilyn Carpinteyro, Common Cause Interim Co-President. “The CFTC should promptly and definitively reject this proposal that will further incentivize bad actors to try to manipulate election results. Americans’ faith in our elections has been significantly undermined, and introducing gambling to the equation will only compound the problem. We should instead be focused on expanding and delivering on the promise of democracy and restoring public faith in the process.”
Kalshi previously sought CFTC approval to take bets on the 2022 midterms but ultimately withdrew its proposal after Commission staff raised concerns and recommended rejecting the proposal.
More than 15,000 Common Cause members co-signed the comments filed today urging the CFTC to reject Kalshi’s proposal pursuant to 17 C.F.R. § 40.11 as contrary to the public interest.
To read the comments, click here.