By SectorWire desk ·
New Jersey filed a petition on 2 September asking the US Supreme Court to review a ruling favouring Kalshi. The Third Circuit found Kalshi likely to succeed in arguing federal pre-emption, while the Ninth Circuit rejected that position in its Nevada case.
The petition challenges a ruling favouring Kalshi over New Jersey’s authority to regulate its sports contracts as gambling.
Request a correction / right of reply
Linked through shared companies, regulators and people, or one step further through the graph.
IAGR and NAGRA’s joint brief adds regulatory backing to New Jersey’s request for Supreme Court review.
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.
The dispute could affect whether prediction market operators face state gambling laws alongside federal oversight.