New Jersey’s attorney general’s office sought an extension on 26 June to petition the US Supreme Court over prediction markets, according to reports. The state is considering a formal request by 4 September, while a bill that received an initial legislative approval would impose a 9% tax on prediction market operators.
The petition and proposed tax could affect prediction-market access and costs in New Jersey.
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It was reported that the NFL petitioned the United States Supreme Court over state oversight of prediction markets. The league wants states to have authority to regulate those markets.
Ohio has asked the US Supreme Court to hear a dispute over authority to regulate sports prediction markets. A bipartisan coalition of 39 states supports the request. Ohio argues states should oversee these products, while operators including Kalshi and Polymarket say they offer swaps under Commodity Futures Trading Commission supervision.
Ohio has asked the US Supreme Court to hear a dispute over whether sports-related prediction markets fall under state gambling law or federal oversight of swaps, according to a filing by the state. Ohio is leading a bipartisan coalition of 39 states in the request. The Supreme Court is not required to take the case, and it is not yet known whether the justices will agree to hear it.
The NFL has submitted an amicus brief supporting New Jersey’s bid to bring sports prediction market oversight before the US Supreme Court. The league wants clarification on the division of authority between the CFTC and state gambling regulators. Kalshi supports nationwide federal rules, while the court is not expected to announce whether it will take the case before December.
New Jersey officials want the US Supreme Court to take up a case about which authority oversees contracts tied to sports prediction markets, and the NFL has now backed that request in an amicus brief. According to the filing, the league told the justices that appellate courts have reached conflicting conclusions on the question, which turns on whether the Commodity Futures Trading Commission holds primary responsibility or whether state gambling regulators do. Whether the court grants review will not be known before December, the filing indicates.
The NFL has asked the US Supreme Court to allow states to regulate prediction markets. Its position challenges federal treatment of contracts linked to sports.
A group of 40 state attorneys general asked the US Supreme Court to consider New Jersey’s prediction markets dispute. New Jersey wants to reverse an appellate decision giving federal commodity-trading legislation priority over its gambling rules.
Forty state attorneys general, drawn from both parties and speaking for 39 states plus Washington, D.C., have signed an amicus brief asking the US Supreme Court to take up New Jersey's suit against prediction market operators. The filing backs New Jersey's effort to reverse a decision by a lower appellate court, which held that the state's gambling statutes were displaced by federal commodity-trading law.