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Former U.S. Deputy Solicitor General Submits Amicus Brief Supporting Kalshi in Prediction Markets Case

GateNews
Prediction Market
KALSHI0.69%
According to Coinbase Chief Legal Officer Paul Grewal, former U.S. Deputy Solicitor General Prelogar, representing the Coalition for Prediction Markets, has submitted an amicus brief to the U.S. Sixth Circuit Court of Appeals supporting Kalshi. The filing outlines the Commodity Futures Trading Commission's regulatory authority over prediction markets and presents three key arguments: prediction markets uniquely aggregate market information into price signals; prediction market users trade at prices set by market participants and do not control contract pricing; and state securities laws are unsuitable for regulating prediction markets as they do not address price discovery, information aggregation, risk hedging, or market manipulation prevention specific to prediction markets.
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