After just a few hours, U.S. election bets put on hold by appeals court ruling

News

After just a few hours, U.S. election bets put on hold by appeals court ruling

2024-09-14 03:23 Last Updated At：03:41

ATLANTIC CITY, N.J. (AP) — Just hours after it began, legal betting on the outcome of U.S. Congressional elections has been put on hold by a federal appeals court.

The Court of Appeals for the District of Columbia Circuit issued an order Thursday night temporarily freezing the matter until it can consider and rule on the issue. No timetable was initially given.

The court acted at about 8:30 p.m. Thursday, mere hours after a federal judge cleared the way for the only bets on American elections to be legally sanctioned by a U.S. jurisdiction.

U.S. District Court Judge Jia Cobb permitted New York startup company Kalshi to begin offering what amounts to bets on the outcome of November elections regarding which parties win control of the House and Senate.

The company's markets went live soon afterwards, and Kalshi accepted an unknown amount of bets, which it called “contracts.”

The Thursday night order put a halt to any further such bets. What might happen to those already made was unclear Friday.

Neither Kalshi nor the commission immediately responded to messages seeking comment Friday.

The ruling came after the Commodity Futures Trading Commission appealed Cobb's ruling, warning that allowing election bets, even for a short period of time, risked serious harm from people trying to manipulate the election for financial purposes.

Prices on Kalshi’s so-called predictive contracts varied during the afternoon and early evening hours during which they were live on Thursday. At one point, a bet on the Republicans to win control of the Senate was priced at 76 cents; a $100 bet would pay $129. A bet on the Democrats to win control of the House was priced at 63 cents, with a $100 bet paying out $154.

The elections category under which they had been posted Thursday was missing from the company's website Friday afternoon.

Follow Wayne Parry on X at www.twitter.com/WayneParryAC

Ivan Juric out at relegated Southampton for his 2nd firing of the season

2025-04-07 19:48 Last Updated At：19:51

LONDON (AP) — Ivan Juric was fired by Southampton on Monday after the last-placed Premier League club was relegated — marking his second sacking of the season.

Simon Rusk was named Southampton's interim manager and will be assisted by Adam Lallana.

In November Juric was also fired by Roma after being in charge of the Italian side for under two months, then hired by Southampton in December to replace Russell Martin. He had signed an 18-month contract with Southampton.

With just 10 points from 31 games, Southampton’s fate was sealed with a 3-1 loss to Tottenham on Sunday.

“We can confirm that we have today reached an agreement with our men’s first team anager, Ivan Juric, to end his spell at the club,” Southampton said in a statement.

“Ivan came to Southampton at a tough time and was tasked with trying to improve a squad in a difficult situation,” the club added. “Unfortunately, we haven’t seen performances progress the way we had hoped, but we would like to thank Ivan and his staff for their honesty and hard work as they fought against the odds to try and keep us up.”

Southampton won only one of 14 Premier League matches under Juric and only two overall, with the other victory coming in the FA Cup.

It is the fourth-earliest relegation in the Premier League era, according to the league’s statistician Opta.

Juric, a Croatian, was coaching outside of Italy for the first time. He has also managed Mantova, Crotone, Genoa, Hellas Verona and Torino.

AP soccer: https://apnews.com/hub/soccer