Yep *39 states + DC* backed NJ as of *Oct 7 filing* now *40+* counting amicus wave.$MAGIC $KAIA $BAT
*Case:* Flaherty v. KalshiEX, NJ petition for writ of certiorari filed *Sept 2*, docketed No. 26-299 question: does *Dodd-Frank's "swap" definition / CEA preempt state sports-betting laws* for CFTC-registered markets?
*NJ says:* "Companies like Kalshi claim legal sports betting in all 50 states, but refuse to follow gambling laws of any state" — AG Jennifer Davenport + DGE interim Mary Jo Flaherty
- *States coalition brief Oct 7:* led by *Ohio AG Dave Yost*, 38 others + DC — includes NV AG Aaron Ford — argues *circuit split*: 3rd Circuit (Apr) sided Kalshi — says federal preemption likely, 9th Circuit (Nevada) + 6th Circuit (Ohio/Tennessee Sep) sided states — "hopelessly confused and divided"
- *Why states care:* state frameworks have age 21+, exclusion lists, spending limits, problem-gambling protections — federal preemption would gut them — also 20+ states have active enforcement vs Kalshi
- *Other backers:* NCLGS legislators Sep 24, *NFL amicus Oct 8* — NFL says *$1.8B of $3.3B* volume opening NFL Sunday was NFL markets, warns integrity — no banned manipulable bet categories, no 21 age limit from CFTC — Tribes + gaming regulators also filed
- *Timeline:* Kalshi response deadline *Nov 9* after 30-day extension — Supreme Court decides grant/deny — if granted, argument likely 2027 term
*CFTC side:* agency filed amicus supporting Kalshi in lower courts, sued states AZ/CT/IL/KY/MN/NM/NY/RI/WI, plus June 2026 rulemaking proposing federal preemption for sports event contracts — 44 states commented opposing
So bipartisan supermajority says states, not CFTC, should govern sports prediction markets.
*BREAKING 🚨 39 states + DC urge Supreme Court to hear NJ vs Kalshi — Petition Sept 2 challenges CFTC exclusive authority over sports prediction markets — Ohio-led brief cites 3rd vs 6th/9th circuit split — NFL backs states, $1.8B NFL volume — Question: does Dodd-Frank swap preempt state gambling law? Response due Nov 9 📈*
*Case:* Flaherty v. KalshiEX, NJ petition for writ of certiorari filed *Sept 2*, docketed No. 26-299 question: does *Dodd-Frank's "swap" definition / CEA preempt state sports-betting laws* for CFTC-registered markets?
*NJ says:* "Companies like Kalshi claim legal sports betting in all 50 states, but refuse to follow gambling laws of any state" — AG Jennifer Davenport + DGE interim Mary Jo Flaherty
- *States coalition brief Oct 7:* led by *Ohio AG Dave Yost*, 38 others + DC — includes NV AG Aaron Ford — argues *circuit split*: 3rd Circuit (Apr) sided Kalshi — says federal preemption likely, 9th Circuit (Nevada) + 6th Circuit (Ohio/Tennessee Sep) sided states — "hopelessly confused and divided"
- *Why states care:* state frameworks have age 21+, exclusion lists, spending limits, problem-gambling protections — federal preemption would gut them — also 20+ states have active enforcement vs Kalshi
- *Other backers:* NCLGS legislators Sep 24, *NFL amicus Oct 8* — NFL says *$1.8B of $3.3B* volume opening NFL Sunday was NFL markets, warns integrity — no banned manipulable bet categories, no 21 age limit from CFTC — Tribes + gaming regulators also filed
- *Timeline:* Kalshi response deadline *Nov 9* after 30-day extension — Supreme Court decides grant/deny — if granted, argument likely 2027 term
*CFTC side:* agency filed amicus supporting Kalshi in lower courts, sued states AZ/CT/IL/KY/MN/NM/NY/RI/WI, plus June 2026 rulemaking proposing federal preemption for sports event contracts — 44 states commented opposing
So bipartisan supermajority says states, not CFTC, should govern sports prediction markets.
*BREAKING 🚨 39 states + DC urge Supreme Court to hear NJ vs Kalshi — Petition Sept 2 challenges CFTC exclusive authority over sports prediction markets — Ohio-led brief cites 3rd vs 6th/9th circuit split — NFL backs states, $1.8B NFL volume — Question: does Dodd-Frank swap preempt state gambling law? Response due Nov 9 📈*