States and NFL Push Supreme Court on Kalshi Sports Contracts
- Ohio, along with 38 other states and Washington, D.C., backed New Jersey’s petition to the U.S. Supreme Court on October 7.
- The NFL filed a brief on October 8, requesting a ban on bets easily manipulated by individuals and setting a minimum age of 21 for trading.
- Polymarket traders estimate a 20.5% chance that the court will hear the sports contract case by year-end.
- The Third Circuit ruled in favor of Kalshi in New Jersey, while the Ninth and Sixth Circuits ruled against it.
- $1.8 billion of $3.3 billion traded on prediction markets was linked to NFL games during the season’s first Sunday.
A coalition of states and organizations is urging the U.S. Supreme Court to clarify whether federal commodities law protects sports event contracts from state gambling laws, following conflicting lower court decisions regarding Kalshi’s operations.
With significant financial stakes involved, including billions tied to NFL games, stakeholders are pressing for clarity before another season begins, highlighting regulatory inconsistencies across jurisdictions.( Source)
