Published • loading... • Updated
New Jersey takes fight over Kalshi's prediction market to US Supreme Court
The state says a circuit split leaves 20 states in litigation and could let prediction markets bypass gambling licenses nationwide.
- On Tuesday, New Jersey petitioned the Supreme Court to resolve how prediction markets should be governed, challenging a lower court ruling that favored KalshiEX LLC and seeking nationwide regulatory clarity.
- A legal conflict emerged when the Ninth Circuit Court ruled last week that states can regulate prediction markets as sports betting, directly contradicting the Third Circuit Court's April decision favoring federal jurisdiction.
- New Jersey Attorney General Jennifer Davenport argues prediction firms "have no right to offer their sports bets without following state law," a position shared by a bipartisan coalition of 44 states.
- Chairman Mike Selig of the Commodity Futures Trading Commission maintains exclusive federal jurisdiction over these markets, while the Trump administration has aggressively asserted these offerings are "swaps" subject to federal oversight.
- Justices may choose to wait until fall to decide whether to hear the case, potentially allowing other pending disputes to resolve first. If accepted, a ruling could arrive by next summer.
Insights by Ground AI
Podcasts & Opinions
87 Articles
87 Articles
The IndependentReposted by 
The Independent (US)
The Independent (US)Kalshi won’t allow betting on Supreme Court case deciding its future
Kalshi will not list prediction markets related to a potential Supreme Court case over the future regulators of prediction markets, the company told ‘Barron’s’
·London, United Kingdom
Read Full Article
Hawaii Tribune-HeraldReposted by 
Investing.com
Investing.comNew Jersey takes fight over Kalshi’s prediction market to US Supreme Court
New Jersey authorities on Wednesday asked the U.S. Supreme Court to resolve whether states have the power to police sports betting that occurs on prediction markets operated by Kalshi and competing platforms.
Coverage Details
Total News Sources87
Leaning Left17Leaning Right7Center32Last UpdatedBias Distribution57% Center
Bias Distribution
- 57% of the sources are Center
57% Center
L 30%
C 57%
13%
Factuality
To view factuality data please Upgrade to Premium
