India, Oct. 8 -- The National Football League (NFL) has urged the U.S. Supreme Court to treat sports-related prediction markets as gambling and subject them to state regulations, escalating a legal dispute between prediction market operator Kalshi and New Jersey.
The league submitted a friend-of-the-court brief arguing that existing safeguards are insufficient to address risks associated with these markets.
The dispute centres on whether prediction markets fall under the exclusive authority of the federal Commodity Futures Trading Commission (CFTC) or must comply with individual states' gambling laws.
A ruling favouring federal oversight could allow operators to offer sports-related contracts nationwide, while a state-regulation approach...