NFL urges Supreme Court to look at prediction markets

Reported by The Hill. The paragraphs below are the opening of that article, reproduced word for word — not a summary, and not the whole piece.

The NFL urged the Supreme Court on Thursday to take up a case over who has the authority to regulate prediction markets, arguing that wagers on the platforms should fall under state gambling laws .

The league filed an amicus brief as part of a dispute between Kalshi and the state of New Jersey, which has asked the justices to weigh in on the issue that has produced conflicting decisions at the appellate level.

“This split of authority, and the consequent uncertainty about the regulatory oversight of sports wagering on DCMs [designated contract markets], pose a significant challenge to the NFL’s game-integrity and consumer-protection efforts,” it wrote in Thursday’s filing.

Kalshi and other prediction markets argue that the wagers they offer are financial instruments known as “swaps” and are federally regulated by the Commodity Futures Trading Commission (CFTC) .

States, by contrast, view this as gambling and contend it should fall under their jurisdiction.

Under the Trump administration, the CFTC has weighed in on the dispute in favor of prediction markets , bringing numerous lawsuits against states that have moved to enforce their gambling laws against the platforms.