CFTC investigates if Kalshi improperly self-certified event contracts

The Commodity Futures Trading Commission is investigating whether Kalshi improperly self-certified its event contracts, following the agency's August order for the exchange to remove sports-related "mention markets." The probe centers on the self-certification process that lets designated contract markets list products without prior CFTC approval, a mechanism Kalshi has relied on to expand rapidly into event betting. The dispute matters because it tests how far the agency can constrain Kalshi's product lineup after the exchange's legal victory allowing it to offer election contracts. Watch for whether the CFTC formally challenges past self-certifications or narrows Kalshi's ability to list new markets without sign-off.