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Legal Opinion

Kalshiex LLC v. Commodity Futures Trading Commission

District Court, District of Columbia

Decided September 12, 2024No. Civil Action No. 2023-3257Published

1Opinion of the Court

UNITED STATES DISTRICT COURT FOR THE DISTRICT OF COLUMBIA KALSHIEX LLC, Plaintiff, Civil Action No. 23-3257 (JMC) v. COMMODITY FUTURES TRADING COMMISSION, Defendant. MEMORANDUM OPINION This lawsuit concerns the interpretation of the Commodity Exchange Act (CEA)’s special rule for the review of event contracts, a type of derivative contract whose payoff is based on the outcome of a contingent event. The special rule authorizes the Commodity Futures Trading Commission (CFTC) to review, and prohibit, event contracts that it determines are contrary to the public interest if, and only if, they…

2Cases cited23 opinions

  1. Chevron U. S. A. Inc. v. Natural Resources Defense Council, Inc.Supreme Court of the United States · 1984
  2. Skidmore v. Swift & Co.Supreme Court of the United States · 1944
  3. New York State Conference of Blue Cross & Blue Shield Plans v. Travelers InsuranceSupreme Court of the United States · 1995
  4. Davis v. Michigan Department of the TreasurySupreme Court of the United States · 1989
  5. Epic Systems Corp. v. LewisSupreme Court of the United States · 2018

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