New Jersey Seeks Supreme Court Review of Kalshi Sports Betting Contracts Case

New Jersey Attorney General Jennifer Davenport and Acting Director of the Division of Gaming Enforcement Mary Jo Flaherty have submitted a petition to the U.S. Supreme Court requesting a review of the state's enforcement case against the prediction market platform Kalshi for offering sports betting contracts. The petition cites at least 20 civil cases brought by state gaming regulators and asks the Supreme Court to determine whether prediction market companies can comply with the regulations of the Commodity Futures Trading Commission (CFTC) while potentially violating state laws. The petition also addresses whether the Dodd-Frank Act excludes state authority over sports betting within their jurisdictions. This application challenges a 2-1 ruling made by the U.S. Third Circuit Court of Appeals in April. Kalshi spokesperson Dani Lever stated that the company disagrees with New Jersey's appeal to the Supreme Court and claims that Kalshi cannot accept regulation by 50 different agencies; the company remains confident in the lower court's ruling.

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