Keep pulling the thread on Tarek Mansour and Luana Lopes Lara.
Calci trades more than $10 billion in prediction contracts each month.
Calci won its lawsuit against the CFTC regarding election markets at the end of 2024.
Calci sued its regulator, the CFTC, after the agency refused to approve contracts on the U.S. presidential election.
In late 2022, the CFTC used a "pocket veto" to block Calci's election markets by delaying a decision until after the election, which led to layoffs at the company.
Calci's trading volume reached $10.4 billion in February, an 11x increase over a six-month period.
Over 95% of the liquidity on Calci is provided by individual users and small shops, not large institutional market makers.
Calci spent four years in a pre-launch phase focused on obtaining regulatory approval to operate in the United States.
Calci was founded in 2019 and, after a three-year regulatory process, launched its platform in 2022.
Calci's founding vision was to build the next-generation New York Stock Exchange as a credible, regulated financial market based in the U.S.
Every contract listed on Calci is filed with the CFTC, which has a 24-hour window to block it.
Calci does not list prediction contracts on topics related to war or assassination.
Calci's legal argument against the CFTC was that since elections have economic impact, they must be allowed to trade on a derivatives exchange under the Commodities Exchange Act.