NFL urges Supreme Court to rule on prediction market regulation

Summarised from 2 outlets · Updated 8 Oct, 19:55 · Archive

The NFL is urging the Supreme Court to rule on who should regulate prediction markets, supporting New Jersey's case.

The NFL has filed an amicus brief with the Supreme Court urging the justices to rule on the regulation of prediction markets. The league argues that states, which already regulate legal sports books, are better positioned to oversee sports-related contracts 'given the current landscape'. The NFL is supporting New Jersey's request for the Court to determine the governing authority for prediction markets, which allow people to trade on the outcome of future events.

The dispute centres on regulatory jurisdiction. The Commodity Futures Trading Commission maintains it has exclusive federal authority, while states argue that prediction markets are akin to gambling and fall under their purview. According to the NFL's brief, on the first Sunday of this season, more than half of the trading volume on prediction markets—$1.8 billion out of $3.3 billion total—was related to the league.

The NFL warned that without Supreme Court clarity, 'prediction market operators will continue exploiting the gap between state and federal regulation, endangering consumers and the integrity of sports events across the country'. The league added that any delay will result in 'increasing consumer harm and risk to game integrity'. Kalshi, a prediction market platform, countered that the CFTC is actively policing sports-related markets and pointed to its partnerships with sports organisations as evidence of its commitment to market integrity.

How it is being reported

• NFL urges the Supreme Court to rule on regulation of prediction marketsThe NFL is urging the Supreme Court to rule on the regulation of prediction markets, arguing in an amicus brief filed that states are better positioned to oversee sports-related contracts “given the current landscape.”.Clickorlando · 8 Oct, 19:24
• NFL urges the Supreme Court to rule on regulation of prediction marketsThe NFL is urging the Supreme Court to rule on the regulation of prediction markets, arguing in an amicus brief filed that states are better positioned to oversee sports-related contracts “given the current landscape.”.News4Jax · 8 Oct, 19:24

In this story: NFL · Supreme Court · Commodity Futures Trading Commission · New Jersey · Kalshi

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