A court ruling last month gave prediction market Kalshi the green light to proceed with its political prediction-market contracts, lifting a ban by the CFTC and making it the first federally regulated exchange in the U.S. to allow trades on the outcome of any event.

The US Commodity Futures Trading Commission is at an “inflection point” after a court decision legalized contracts that allow speculators to bet on election outcomes, Chairman Rostin Behnam said in a Bloomberg Television interview.

Chair Rostin Behnam has reportedly claimed the agency is “handcuffed” as crypto regulation talks stall in the United States. Efforts to adopt a legislative framework regulating the digital asset industry have “stalled out so far,

"With respect to crypto, [Kamala Harris'] criminal prosecution background colors how she views the sector," said Paul S. Atkin, chief executive of Patomak Global Partners and U.S. Securities and Exchange Commission commissioner from 2002 to 2008.

The US Commodity Futures Trading Commission will police registered political derivatives markets despite its best efforts to kill them, agency Chairman Rostin Behnam said during a Tuesday interview with Bloomberg Television.

Prediction marketplace Kalshi has added contracts for betting on outcomes of elections outside of the United States as political wagers soar ahead of the US presidential contest in November.