Money flows on US election bets minutes after judge clears way, but appeal looms [Video]

ATLANTIC CITY, N.J. (AP) — People began betting on which political party would win control of Congress in the November elections within minutes of a judge’s ruling Thursday allowing the bets — the only ones to be legally approved by a U.S. jurisdiction.

New York startup company Kalshi began taking what amounts to bets on the outcome of the November congressional elections after a judge refused to block them from doing so.

The ruling enabled the company, at least temporarily, to offer prediction contracts — essentially yes-or-no bets — on which party will win control of the Senate and the House in November.

The company and its lawyer did not respond to messages seeking comment, and it was not clear whether they intend to offer bets beyond the ones posted Thursday for congressional races, including potentially taking bets on the presidential race.

It also was not immediately clear whether sports …