The NFL is asking the U.S. Supreme Court to step into the growing legal fight over prediction markets and to decide how they should be regulated.
The league filed an amicus brief Thursday supporting New Jersey’s effort to let states regulate the sports contracts offered by prediction-market companies such as Kalshi, according to CNBC’s Contessa Brewer.
The NFL argues that these contracts function like wagers and should therefore be subject to state gambling laws. Kalshi asserts that the contracts are financial derivatives that fall under federal oversight.
The league says stronger regulation is needed to protect the integrity of its games and suggests states are best equipped to provide this regulation.
–