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NFL Urges Supreme Court to Allow State Oversight of Prediction Markets

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NFL Urges Supreme Court to Allow State Oversight of Prediction Markets

The National Football League (NFL) told the Supreme Court that the league wants local gambling regulators to oversee prediction markets, CoinBase reported Thursday (Oct. 8).

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The NFL submitted an amicus brief to the U.S. Supreme Court Thursday, according to the Supreme Court docket for a case in which Mary Jo Flaherty, interim director of the New Jersey Division of Gaming Enforcement, and others are suing Kalshi.

The NFL said in its filing that its concerns about prediction markets and potential risks for game integrity and consumer protection have not been answered by the Commodity Futures Trading Commission (CFTC), according to the CoinBase report.

Kalshi has argued that the CFTC should be the sole regulator of prediction markets, the report said.

In earlier, lower court rulings, one federal court backed Kalshi’s argument, while two others sided with the states, per the report.

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Kalshi spokesperson Elisabeth Diana told CoinBase that Kalshi has tried to work with the NFL and noted that the company has formed partnerships with other sports leagues, including Major League Baseball and the National Hockey League.

“We have consistently tried to engage proactively and constructively with the NFL to collaborate on market integrity with no response,” Diana said in the report.

CNBC reported Thursday that the NFL argued in its amicus brief that sports prediction contracts are effectively gambling that should regulated by the states, not financial swaps that should be regulated exclusively by the CFTC.


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