New Jersey asks Supreme Court to decide state authority over prediction-market sports betting
New Jersey has petitioned the Supreme Court to rule on whether states can regulate sports betting on prediction markets like Kalshi. The state argues these contracts are gambling, not swaps, and should fall under state gaming laws. A circuit split between the 3rd and 9th Circuits increases the likelihood the Court will hear the case.
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Original headline: “Supreme Court urged to let states regulate sports bets on prediction markets.” Browse more stories.