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New Jersey plans Supreme Court review in Kalshi prediction-market case

Regulation

New Jersey officials told a court they intend to seek US Supreme Court review of the Third Circuit’s decision in Kalshi’s case, according to a joint status report. The filing asked the court to pause further proceedings while the Supreme Court considers the matter. The appeals court ruled 2-1 that Kalshi was likely to succeed, finding federal law pre-empted state gambling rules.

The case could determine how state gambling rules apply to sports prediction markets.

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Regulation

State attorneys general seek Supreme Court review of prediction market oversight

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.

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