New Jersey petitions Supreme Court over prediction-market sports betting split
On September 3, the state of New Jersey filed a petition with the U. S. Supreme Court seeking a definitive ruling on whether states may treat sports wagers offered on prediction-market platforms such as Kalshi as gambling, citing a split between a 3rd Circuit decision and a recent Ninth Circuit ruling.
The split stems from the Ninth Circuit Court of Appeals’ unanimous decision that prediction-market platforms fall under state gambling regulations and are not preempted by federal commodities-trading statutes, a stance that contrasts with the 3rd Circuit’s earlier view. NBC Sports reported that the Supreme Court has signaled it could hear the case, and the Ninth Circuit rulings marked the first appellate endorsement of state authority over such markets.