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Better Markets challenges CFTC role in sports event contracts

Regulation

Better Markets argued that federal oversight of sports event contracts conflicts with states’ authority over sports betting, according to its report. The group said Congress intended the CFTC to prevent event contracts used solely for gambling, while the CFTC has challenged state efforts to regulate federally regulated derivatives.

The competing claims over regulatory authority could affect how prediction-market operators offer sports event contracts across states.

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Regulation

Kalshi cases await Supreme Court review decision over sports event contracts

The US Supreme Court has yet to decide whether to review prediction market litigation involving Kalshi. Legal observers warned that declining review could leave conflicting appeals court decisions unresolved and operators facing separate state disputes over the regulatory status of sports event contracts.

A report dated 12 October 2026 notes that the justices have so far given no indication of whether they will take up the Kalshi prediction market disputes. In the view of legal observers quoted in that report, refusing the petitions would probably push operators into a state-by-state contest over sports event contracts that varies from jurisdiction to jurisdiction.

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