"Kalshi will promptly oppose the CFTC’s renewed stay motion on the merits in this Court.
But in the meantime, no administrative stay is necessary or appropriate.
Judge Cobb’s decision on the merits was clearly correct because the statute empowers the CFTC to block event contracts only if they involve (as relevant here) 'gaming' or 'unlawful activity,'" the company's letter said.
"As Judge Cobb observed, elections are neither."

Kalshi's New Political Prediction Markets Halted as CFTC Appeals Loss