US prediction markets face court challenges as Kalshi adds contracts

Prediction-market disputes featured prominently in US reporting this week. Eleven amicus briefs supported New Jersey’s request for Supreme Court review of its dispute with Kalshi, questioning federal oversight of sports-event contracts and implications for state gambling rules. Polymarket also sought help against New York. ¹²

Kalshi introduced ladder and escalator contracts for selected NFL player statistics, offering partial payouts when players finish below a target. Separately, An analysis found that low-probability contracts traded on Kalshi and Polymarket failed roughly 98% of the time. ³⁴

Elsewhere, Republic Amusements is cutting 81 jobs following a Pennsylvania Supreme Court ruling that skill games are illegal gambling machines, according to a WARN notice. Louisiana’s gaming board conditionally extended DraftKings’s sports betting permit through 19 February, citing an incomplete suitability investigation, with a full renewal hearing scheduled for 18 February. ⁵⁶

Entries cited

1. Amici urge Supreme Court to review New Jersey’s dispute with Kalshi 2026-10-16
2. Oklahoma tribe disputes Kalshi’s partnership claim 2026-10-16
3. Kalshi introduces partial-payout contracts for selected NFL player statistics 2026-10-16
4. An analysis finds roughly 98% loss rate for Kalshi and Polymarket longshot contracts 2026-10-16
5. Pennsylvania skill games ban leads Republic Amusements to cut 81 jobs 2026-10-16
6. Louisiana board conditionally extends DraftKings permit pending further investigation 2026-10-16

Written by SectorWire desk from our own entries, using AI drafting tools and our editorial standard. Supporting reporting is linked below. Standards · Corrections