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NFL tells Supreme Court sports prediction contracts are gambling, not swaps

NewsFeeds update

The NFL filed an amicus brief with the US Supreme Court on 8 October backing New Jersey regulators against Kalshi, arguing sports prediction contracts are gambling and should be state-regulated. The NFL said nearly $2bn of the $3.3bn traded on the first Sunday of the season related to its events; Kalshi said the CFTC already regulates such markets.

RegulationPANewsAIBearish

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The story so far: Kalshi sports event contracts preemption fight

US courts are split on whether states can regulate Kalshi's sports event contracts, and New Jersey asked the Supreme Court to review. On 4 November a California federal court barred Kalshi from offering sports contracts on plaintiff tribes' land, with tribes to submit boundary maps by 13 November and Kalshi to report…

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  1. US appeals courts split on state oversight of Kalshi sports contracts; New Jersey seeks Supreme Court review

  2. Illinois court preliminarily rules Kalshi sports event contracts federally preempted

  3. Kalshi wins partial preliminary injunction against Illinois in sports contract case

  4. NFL tells Supreme Court sports prediction contracts are gambling, not swaps

  5. NFL tells US Supreme Court it opposes federal regulation of prediction markets

  6. CME's Duffy says CFTC prediction-market reach may go to Supreme Court

  7. California federal court bars Kalshi sports contracts on plaintiff tribe's land

  8. California court grants tribes preliminary injunction against Kalshi sports contracts

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Every Regulation update on NewsFeeds

Every update is a short rewrite, by AI in our own words, of a flash from the outlet named on it, credited and linked. Updates are joined into one story by AI; our editors can change a story’s name or take an update out. Not investment advice.