Kalshi and New Jersey ask court to pause case ahead of Supreme Court appeal
Kalshi and New Jersey asked the Third Circuit to pause proceedings after New Jersey informed the company it would appeal the dispute to the US Supreme Court. New Jersey argues that Kalshi’s sports contracts amount to sports betting and that it is operating an unlicensed sportsbook; the Third Circuit had ruled in April that Kalshi was likely to succeed in arguing the state could not dictate its trading.
The case could clarify the limits of state authority over sports contracts offered by federally regulated prediction markets.