NFL And 39 States Line Up Behind New Jersey Against Kalshi

NEW YORK – The National Football League took to the Supreme Court of the United States (SCOTUS) to fight for state regulation of prediction markets. The amicus brief supports New Jersey regulators in their battle against Kalshi . The NFL argues that prediction markets offer sports betting that evades state sports betting laws since their sports event contracts are “swaps” under the Commodity Exchange Act (CEA). This has been the core argument in the courts, where the Third Circuit agreed with Kalshi’s argument that the Commodity Futures Trading Commission (CFTC) holds exclusive jurisdiction over the swaps .