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“…rsday, the NFL filed an amicus brief supporting New Jersey's cert petition against Kalshi, asking the Supreme Court to clarify whether the Commodity Futures Trading Commission (CFTC) has exclusive jurisdiction to regulate sports wagering on prediction…”

“The NFL is urging the Supreme Court to rule on the regulation of prediction markets, arguing in an amicus brief filed Thursday that states — which already regulate legal sports books — are better positioned to oversee sports-related contracts “given the…”

“The league's filing comes as New Jersey challenges a federal appeals court ruling that favored Kalshi's position that federal commodities law overrides state gambling regulations.”

“Another case that could to make it to the court this term tests whether states can regulate Kalshi, the $40 billion prediction market behemoth that has sports fans betting on everything from the next pitch to the point spread or at the other end of the…”

“A United States appeals court has found that states can regulate prediction markets, ruling against a bid by the company Kalshi to exempt so-called event contracts from state gambling laws.”

“Kalshi had started listing sports contracts that January, and by March a bunch of states were trying to get the platform to stop, as sports betting is usually regulated state by state.”

“The request follows lower court rulings on oversight of the prediction firms.”