NFL Seeks Prediction Markets Ruling

The NFLNational Football Leagueprofessional American football league filed a Supreme CourtSupreme Court of the United Stateshighest court of jurisdiction in the United States of America brief supporting New Jersey’s request for a ruling on who may regulate sports-related prediction markets. The case pits operators such as KalshiKalshiAmerican prediction market platform, which call event contracts federally regulated financial products, against states that call sports contracts gambling under state law. Appeals courts have split, with the Third CircuitCourt of Appeals for the Third Circuitcurrent United States federal appellate court backing Kalshi and the Ninth Circuit backing Nevada regulators. The NFL says state oversight is needed to protect consumers and game integrity, while Kalshi says the CFTC is policing the markets. NFL-related trading topped $1.8 billion on the season’s first Sunday. The Supreme Court has not agreed to hear the dispute.