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Battle over prediction markets heads to U.S. Supreme Court
NBC Sports • • business
Key Points:
- The U.S. Supreme Court is set to address whether states have the authority to regulate prediction markets as gambling products.
- New Jersey has petitioned the Supreme Court to overturn a 2026 Third Circuit ruling that granted the Commodity Futures Trading Commission (CFTC) exclusive jurisdiction over sports-related event contracts offered by Kalshi.
- The Ninth Circuit recently ruled differently, creating a split among appeals courts that increases the likelihood of Supreme Court review.
- The Supreme Court's eventual decision will establish the definitive legal stance on whether gambling via prediction markets is classified as gambling.
