Current outcome
New Jersey has asked the U.S. Supreme Court to decide whether sports betting on prediction markets should be regulated by states or federal authorities; the NFL filed an amicus brief supporting Supreme Court review and arguing Kalshi's sports contracts are gambling.
Progress timeline
2 material updates- #01
New Jersey asks Supreme Court to decide who regulates sports betting on prediction markets
New Jersey has asked the U.S. Supreme Court to decide whether sports betting on prediction markets should be regulated by states or federal authorities.
Source evidence: The Block
- #02
NFL tells Supreme Court prediction market sports contracts are gambling, not swaps
The NFL filed an amicus brief urging the U.S. Supreme Court to take up New Jersey's challenge and arguing that Kalshi's sports contracts are gambling rather than CFTC-regulated swaps.
State after update: New Jersey has asked the U.S. Supreme Court to decide whether sports betting on prediction markets should be regulated by states or federal authorities; the NFL filed an amicus brief supporting Supreme Court review and arguing Kalshi's sports contracts are gambling.
Source evidence: The Block