By SectorWire desk · · Updated
The NFL urged the US Supreme Court to hear a petition against Kalshi. In an amicus brief, the league argued that sports event contracts constitute gambling and should fall under state gambling laws.
The NFL’s Supreme Court brief supports treating sports event contracts as gambling subject to state gambling laws.
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The suit contests state authority over Underdog’s prediction market and follows a ruling against Kalshi.
The dispute concerns whether federal commodities regulators or gambling authorities should oversee sports contracts, affecting prediction market oversight.
Prediction market regulation faces scrutiny through 39 states’ Supreme Court filing and the NFL’s call for clarity.
The NFL seeks gambling classification for prediction-market apps, citing sporting integrity concerns, unclear rules and limited sports wagering oversight.
The dispute concerns whether sports prediction platforms must comply with state gambling laws alongside federal financial supervision.
The case and lawsuit could affect how sports event contracts operate and how Florida’s gaming compact applies to DraftKings’ platform.