Share 
State of Play’s TL;DR
- The NFL has joined New Jersey officials in urging the US Supreme Court to review a dispute over who regulates sports-related prediction market contracts.
- Is it federal regulators or the states?
The NFL is backing New Jersey officials’ request for US Supreme Court review in a closely watched dispute over who should regulate sports-related prediction market contracts.
In an amicus brief, the league asked the court to resolve a split among lower courts over whether oversight belongs primarily to the Commodity Futures Trading Commission or to state gambling regulators.
The Supreme Court is not expected to decide before December whether it will hear the case.
NFL says current safeguards are not enough
According to the league, the case has major implications for sports-betting integrity. An NFL spokesperson said the league has urged the CFTC and prediction market companies to adopt safeguards including restrictions on bets susceptible to manipulation, protections against insider betting, and a minimum age of 21.
The spokesperson also said neither the CFTC nor the companies have adopted a ban on categories of bets vulnerable to manipulation or set a 21-and-over age limit.
The NFL further argued that it is “unclear if the CFTC has the resources or staff to adequately regulate sports betting,” underscoring the league’s position that the Supreme Court should clarify who has authority over these contracts.
CFTC and Kalshi push back on state-by-state regulation
The CFTC said it had engaged with the NFL from the beginning, but told Reuters it was “unfortunate” the league declined to sign a memorandum of understanding that, according to the agency, would have improved discussion, cooperation, and information exchange.
The legal fight intensified after a Sept. 25 ruling from the 6th US Circuit Court of Appeals, which held that Ohio and Tennessee can regulate Kalshi’s event contracts under their gambling laws.
That decision is part of a broader clash between states and prediction market operators such as Kalshi and Polymarket over whether those products can be offered without complying with state gambling rules. Kalshi spokesperson Dani Lever said the ruling showed why “a state-by-state patchwork doesn’t work,” adding that Congress created a single federal regulator with nationwide rules.
What happens next
Kalshi has until Nov. 9 to respond to the petition. The broader issue has drawn attention from states, regulators, and major sports leagues as courts weigh whether sports-related event contracts should be treated more like federally regulated derivatives or products subject to state gambling oversight.
For bettors and regulators, the case could help determine which rulebook applies as prediction markets continue to expand in sports-related markets nationwide.
Based on reporting by Angelica Medina for The Daily News.
