SEC is down for whatever right now too by the way
In ordinary times when the CFTC is just regulating things like pork belly futures, sure. But crypto and sports gambling are extremely politicized and red-coded now; Kalshi shouldn't expect the same sleepy regulation for them as for ordinary commodities.
Honestly I don't see their endgame. Even if they win these cases in court and fall under CFTC jurisdiction, that only matters if they have friendlies in the White House and the next administration will have knives out for them.
nobody in business cares that the people are married to “due process” to respect the edicts, versus some other governance structure. just delay and adapt is the whole game. the corporation is a conduit to flow revenue to board, executives and functionally shareholders (but dividends are now uncommon). The corporation can become a husk if it fails to adapt and that wont be the current people’s problem if they have extracted substantial wealth out before then
https://www.cmegroup.com/markets/cryptocurrencies/bitcoin/bi...
https://www.fxcm.com/markets/insights/bitcoin-futures-produc...