NFL Joins Supreme Court Pushback Against Prediction Markets
The NFL filed an amicus brief urging the Supreme Court to hear New Jersey's case, arguing Kalshi's sports contracts are gambling, not swaps.
Update (Oct 8, 18:19 UTC): The NFL has formally filed an amicus brief with the U.S. Supreme Court supporting state oversight of prediction markets, warning that federal regulation fails to protect game integrity or underage consumers.
The National Football League (NFL) has filed an amicus brief urging the Supreme Court to hear New Jersey's ongoing case regarding prediction markets, according to TheBlock.
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Amicus Brief Details
In the filing, the NFL argued that sports contracts offered by prediction market platforms such as Kalshi constitute gambling rather than swaps regulated by the Commodity Futures Trading Commission (CFTC).
Regulatory Implications
The intervention by the sports league highlights the expanding legal battle over the jurisdictional boundaries governing event-based contracts and traditional sports betting frameworks in the United States.
Key facts
- The NFL filed an amicus brief urging the Supreme Court to hear New Jersey's case.
- The league argued that Kalshi's sports contracts are gambling.
- The filing contests the classification of these contracts as CFTC-regulated swaps.
Source: theblock.co
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