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New Jersey signals possible Supreme Court appeal in Kalshi prediction-markets case

Regulation

New Jersey has sought more time to ask the US Supreme Court to review a federal appeals court ruling in Kalshi’s prediction-markets case, according to local reporting. The 3rd US Circuit Court of Appeals ruled in April that state gaming regulators could not enforce their order against Kalshi’s sports event contracts; the state’s request for Supreme Court review remains prospective.

A petition could bring the dispute over state authority to regulate prediction-market contracts before the Supreme Court.

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Regulation

Christie predicts Supreme Court case over US sports prediction markets

Former New Jersey Governor Chris Christie said the dispute between states and federal authorities over sports-related prediction-market contracts is likely to reach the US Supreme Court. Christie, a strategic adviser to the American Gaming Association, claimed states had won 85% of related cases; Kalshi’s head of enforcement said the split was closer to 50-50. CFTC Chairman Michael Selig defended the agency’s federal authority.

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