Americans will be able to bet on the outcome of this year’s presidential election after a federal judge at Washington, D.C. ruled that a regulatory agency overstepped its authority when it barred a betting firm from offering contracts. 

The Commodity Futures Trading Commission ruled in 2023 that the betting and prediction firm Kalshi was not legally allowed to offer what are known as event contracts, which allows individuals to place money on the likelihood of specific outcomes. Kalshi sued, saying the CFTC went beyond its authority in barring their firm from offering such contracts.