The Aporia
The NFL has filed an amicus brief with the Supreme Court, supporting New Jersey's petition that state authorities, not federal regulators like the CFTC, should oversee prediction markets. The league argues states are better equipped due to their existing regulation of sports betting. The NFL is concerned about potential consumer harm and integrity risks if there’s a regulatory gap between federal and state oversight. In its brief, the NFL pointed out that platforms such as Kalshi have not adopted safeguards against market manipulation and insider trading, as well as age restrictions for gamblers. With billions of dollars likely to be wagered on NFL games through prediction markets each season, the league is urging the court to act before the end of the current football season in January.