Kalshi has submitted a filing to the Commodity Futures Trading Commission (CFTC) which would allow users of the prediction markets operator to trade event contracts tied to flight delays and cancellations at every airport in the US.
Currently, traders on Kalshi can swap event contracts related to the number of delays and cancellations reported at specific US airports, such as John F. Kennedy International in New York and Chicago O’Hare International.
The filing, deemed with the terminology “AirportDelay,” was filed with the CFTC on July 14 and would include trades based on the percentage of flight cancellations and delays pitted against the total number of flights scheduled.
At the time of writing, it appears global flight tracking and aviation data platform FlightAware, as well as the Bureau of Transportation Statistics, would be used for settlement criteria.
The filing garnered a reaction across social media, with many users of the X (formerly Twitter) platform creating humorous posts about TSA agents potentially creating purposeful delays after placing their own wagers on specific flights.
In recent news regarding Kalshi and the CFTC, the Commission “exercised its authority to stay an emergency rule change proposed by Kalshi,” blocking the operator from cancelling trades in Michigan despite being ordered to cease such activity on June 29.
Following the denial, Kalshi representatives stated the operator is currently reviewing the CFTC’s order and continues to consider its next plan of action. Michigan regulators, including the Gaming Control Board (MGCB), have yet to comment on the matter.
Kalshi moved to cancel trades in Michigan after the Ingham County Circuit Court granted Attorney General Dana Nessel a temporary restraining order against the operator, following her original enforcement action filed on March 4.
Kalshi appointed Jovy Dedaj as the operator’s new Head of Litigation on July 9, having previously served with Interactive Brokers as Counsel and Assistant General Counsel for nearly five years
