Elections, Gambling
Gambling on Elections Undermines Democracy
Think Democrats will take the House of Representatives in November; place your bet now.
As if Donald Trump and MAGA were not enough to make me worry about the future of Democracy, a Federal District Court judge has ruled that gambling on election outcomes is legal. That’s right — Under the ruling, gamblers will be allowed to bet on party control of Congress, margins of control, and even things like who will be elected Speaker or Chairs of key committees.
The ruling also opens the door for more betting on who will be elected president, what states Trump or Harris will win, and dozens of other election outcomes — things like what percentage of the Black vote Trump will win.
The decision comes in a case before the Federal District Court for the District of Columbia. KalshiEX LLC challenged a Commodities Futures Trading Commission (CFTC) ruling prohibiting the practice. The decision and other detailed information on the case may be found on the District Court’s website.
It is unclear whether the CFTC will appeal the decision. Hopefully, they will.
