Paradigm Supports Legal Fight Against CFTC with Prediction Market

By Benito Cormi Feb 8, 202479Views

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Investment Firm Paradigm Supports Kalshi in Legal Battle Against CFTC

Paradigm, an investment firm, is backing prediction market platform Kalshi in its legal dispute with the CFTC. The disagreement stems from the CFTC’s rejection of Kalshi’s proposal to allow speculation on the outcome of U.S. Congressional elections. Paradigm submitted an amicus brief in favor of Kalshi’s lawsuit, arguing that prediction markets play a crucial role in risk management and information dissemination within the crypto industry. The firm believes that these markets provide valuable insights and help companies mitigate regulatory risks. Paradigm asserts that enabling contracts on Congressional control is in the public interest and urges the court to overturn the CFTC’s prohibition. The outcome of this case may have implications for similar products in the future.

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Benito Cormi

Benito Cormi, the brilliant crypto analyst who has made waves in the world of cryptocurrency. With his razor-sharp analytical skills and deep understanding of the digital asset landscape, Benito has become a trusted figure in the industry and remains at the forefront, tirelessly researching and analyzing market trends to help individuals and businesses make informed decisions in this dynamic landscape.