Will Kalshi have a real-money market on the outcome of the 2024 US presidential election?
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Plus
97
Ṁ1.8m
resolved Oct 11
Resolved
YES

[12/10/22 EDIT] It should be possible to access the market legally from within the US.

[9/8/24 EDIT] "Who will win the 2024 US presidential election?", "Who will be POTUS on 2025/1/21?" and similar would count. Markets about Congress wouldn't count.

[9/13/24 EDIT] There shouldn't be too much uncertainty about the market's legality. I'm choosing to operationalize that as "the market should be continuously available in the US for ≥1 week (not counting technical issues like a server outage)".

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inactive, Resolves yes @mods

@nikki With my mod hat on I'm gonna say that while I endorse resolving I don't think someone is inactive for not resolving a market in the first few hours it could be resolved.

@NathanpmYoung ahh -- I didn't realize the rule here said the market should be live for a week...

Is there a reason this has this has not resolved yet?

@Moscow25

There shouldn't be too much uncertainty about the market's legality. I'm choosing to operationalize that as "the market should be continuously available in the US for ≥1 week (not counting technical issues like a server outage)".

I believe the markets launched at 8:15 ET last Friday. So it should resolve in less than 24 hours from now.

@agabara ahh I see -- missed that it needs to be live for a week... I knew it was live for days but didn't realize that was part of the ruleset

New market: Will Kalshi's presidential election market prices converge with Polymarket by October 15?

bought Ṁ89,667 YES

This is ready to close, @JavierPrieto.
https://kalshi.com/markets/pres/presidential-elections

bought Ṁ1,000 NO

@FlipPidot It still has to stay up for a week!

@Joshua Good point!

sold Ṁ239 NO
bought Ṁ250 NO

Interactive Brokers followed the same 1-day delay as Kalshi, & the criteria should be otherwise ~equivalent (1 week continuous operation). Any reason that one's currently lower? do people just think they're less committed to forcing it through?

Edit: now they ~match, for now. we'll see if that sticks

/Yiddishe_Kupp1980/will-interactive-brokers-ibkr-have

@FlipPidot pretty much runs this market that is why

bought Ṁ2,500 YES
bought Ṁ1,000 YES

No idea whether this means something or not, but

Interesting they kept the "Trump v Harris" URL
https://kalshi.com/live/trump-v-harris

But not showing Trump v Harris countdown anymore.. Hmm...

bought Ṁ3,333 YES

Kalshi keep posting they will have election markets... today
https://x.com/Kalshi/status/1841843271389020242

bought Ṁ5,555 YES

any reason why this got sold down from 90% back to 60%?

@Moscow25 the previous countdown was taken down

@Ziddletwix that does seem like a good reason!

bought Ṁ2,000 YES

The ongoing court case pertains to Kalshi's listing of House and Senate contracts and their subsequent suspensions by CFTC.

Accordingly, the Court concludes that Kalshi’s congressional control contracts do not involve unlawful activity or gaming. And thus the Court has no occasion to consider whether they are contrary to the public interest.

But the favorable district court judgment is completely applicable to Presidential market even though that was not what triggered the case.

Kalshi’s event contracts ask buyers to take a yes/no position on whether a chamber of Congress will be controlled by a specific party in a given term. That question involves (relates to, entails, has as its essential feature, or any other iteration of the word) elections, politics, Congress, and party control; but nothing that any Party to this litigation has identified as illegal or unlawful activity. Nor does that question bear any relation to any game—played for stakes or otherwise.

My view is the only reason Kalshi might fail to list presidential contract if they win on the injunction/appeal is if CFTC rejects the listing and uses its 90 day review window to run out the clock until after the election. I do not think it's likely because Kalshi/court/CFTC's legal arguments do not distinguish between presidential and congressional contracts at all.

Another possibility is Kalshi chooses not to list presidential market to avoid more CFTC battle or for business/PR reasons. I think this is low probability. The Trump vs Harris market would be a game changer for Kalshi as a business.

Therefore it really comes down to whether Kalshi is able to beat the injunction, that's it. I'm not legal expert but that's my view after doing some reading.

Okay let's have the discussion. It seems like Kalshi never tried to create a presidential market in the first place?

Also it seems unlikely to me that prediction markets have been made legal in any sense, what's going on with that.

@NathanpmYoung They have on their website kalshi.com/elections showing a “Who will win the election” with photos of Trump and Harris saying “Coming Soon”