New Jersey officials petition US Supreme Court over prediction markets
New Jersey prediction markets dispute heads to the Supreme Court over sports contracts See how the ruling could reshape state gambling laws and U.S. regulation
New Jersey’s attorney general and the state’s gaming regulator have asked the US Supreme Court to review a dispute over whether prediction market companies can offer sportsrelated contracts in the state.
The petition centers on Kalshi, a platform that has faced enforcement action from New Jersey over contracts tied to sporting events. State officials argue that federal registration with the Commodity Futures Trading Commission should not override state gambling laws.
The filing follows a split ruling from the US Court of Appeals for the Third Circuit, which sided with Kalshi. New Jersey says the Supreme Court should settle whether states or federal regulators have the final say over these markets. The outcome could affect how prediction markets are regulated across the US.