By SectorWire desk ·
New Jersey filed a petition with the US Supreme Court on 2 September over Kalshi’s sports event contracts. Kalshi maintained that it operates a nationwide financial exchange and opposed regulation by individual states. The court must decide whether to accept the case.
The petition seeks Supreme Court review of the dispute over state regulation of Kalshi’s sports contracts.
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The petition challenges a ruling that prevents New Jersey gaming authorities from blocking Kalshi’s sports contracts.
Shah’s guilty plea links illegal poker club management to criminal proceeds, forfeiture of his council seat and recommended imprisonment.
The dispute concerns whether states can apply gambling rules to sports-event contracts offered by federally regulated exchanges.
The findings bear on state challenges to Kalshi and Polymarket's position that their contracts fall exclusively under CFTC jurisdiction.
The analysis questions Kalshi’s explanation for concentrated activity in its ether perpetual contracts.
The new contracts allow partial settlement rather than requiring players to reach the full statistical target.