Rehearing Denied

The Sixth Circuit is more likely than not to reject Kalshi's rehearing request because rehearing petitions are rarely granted and the panel has already ruled against the company. The new CFTC swap-rule proposal may be treated as a separate regulatory development rather than a reason to reopen the judgment.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.