📰 US lawmakers from gaming states urge SCOTUS to take up Kalshi case
The Supreme Court may soon clarify the jurisdiction over prediction markets in a case involving New Jersey's gaming authorities and the prediction market platform Kalshi. A group of state lawmakers has filed an amicus brief supporting New Jersey's petition, arguing that a ruling favoring Kalshi could undermine state regulation of sports betting and create confusion in the industry. The case, which follows a decision from the US Court of Appeals for the Third Circuit, raises questions about whether state or federal agencies should oversee prediction market companies, with Kalshi set to respond by November 9.
The Supreme Court may soon clarify the jurisdiction over prediction markets in a case involving New Jersey's gaming authorities and the prediction market platform Kalshi. A group of state lawmakers has filed an amicus brief supporting New Jersey's petition, arguing that a ruling favoring Kalshi could undermine state regulation of sports betting and create confusion in the industry. The case, which follows a decision from the US Court of Appeals for the Third Circuit, raises questions about whether state or federal agencies should oversee prediction market companies, with Kalshi set to respond by November 9.