New Jersey appeals Kalshi sports betting case to SCOTUS
New Jersey authorities asked the Supreme Court to determine whether states can regulate sports betting on prediction markets like Kalshi. The state argues federal law does not strip states of gaming oversight authority.
New Jersey authorities on Wednesday asked the United States Supreme Court to resolve whether states can regulate sports betting on prediction markets operated by Kalshi. The filing targets an appellate ruling that gave federal regulators exclusive oversight. The dispute impacts the fast-growing prediction market industry, which reached a valuation of $22B.
