Map Shows 40 States Backing NFL's Supreme Court Prediction Market Fight
Summary
A group of 40 states and the NFL are asking the U.S. Supreme Court to decide if sports prediction markets, like the one run by Kalshi, should follow federal financial laws or state gambling rules. The states and NFL want these markets to be regulated by state gambling authorities to protect consumers and game integrity.Key Facts
- Attorneys general from 39 states and Washington D.C. support New Jersey’s request for Supreme Court intervention.
- The dispute is whether sports prediction contracts are financial products under federal law or sports bets regulated by states.
- Different federal courts have ruled differently, creating confusion and legal disagreement.
- The NFL argues that sports prediction markets involve gambling and should be regulated by state gaming agencies.
- $1.8 billion of the $3.3 billion traded on prediction markets during the first Sunday of the NFL season involved football contracts.
- The states’ filing highlights protections in state gambling laws, like age limits and spending controls, to prevent problem gambling.
- The NFL wants stronger rules for sports prediction markets, such as a minimum age of 21 and safeguards for game integrity.
- Kalshi claims it is a federally regulated financial exchange and that federal law applies, not state gambling laws.
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