Posted 2/1/2024, 11:22:00 PM
Venture Capital Firm Backs Prediction Market in Lawsuit Against Regulator Over Congressional Control Contracts
- Paradigm VC firm filed brief supporting prediction market platform Kalshi in its lawsuit against the CFTC
- Kalshi asked court to overturn CFTC denial of its request to list contracts predicting which party will control Congress
- Paradigm argues such markets could help crypto startups hedge regulatory risks
- Prediction markets saw over $100M staked in 2021; Polymarket saw record volume in January
- Briefs argue prediction markets benefit public by providing valuable real-time information on events