NFL tells Supreme Court prediction markets are gambling and should be regulated by the states
The league says 1.8 billion dollars in football trading on opening Sunday shows the contracts resemble gambling and invite manipulation.
- The National Football League is urging the Supreme Court to confirm states maintain control over sports betting, arguing prediction markets like Kalshi are effectively gambling rather than federally regulated financial swaps.
- Concerns regarding bet manipulation prompt the league to note that Kalshi allows bettors as young as 18 while the NFL insists on a minimum age of 21.
- Arguing that "regulating gambling is among states' sovereign police powers," the league claims that given the Commodity Futures Trading Commission's resource constraints, oversight is best left to individual states.
- Football accounted for $1.8 billion in prediction markets trading on the season's first Sunday, though the NFL maintains an advertising ban unlike the NHL and MLB, which have established partnerships.
- Commissioner Roger Goodell emphasized the league's need for stronger protections, stating, "We don't feel like we have to be the first in this. We feel like we're going to be right.
9 Articles
9 Articles
State AGs Ask SCOTUS to Hear Prediction Market Case
A bipartisan coalition of 39 state attorneys general submitted an amicus brief to the U.S. Supreme Court this week in support of New Jersey’s recent petition for an appeal of its lawsuit against prediction market operator Kalshi. Led by Ohio Attorney General Andy Wilson, the group submitted the amicus brief on Wednesday, noting that federal … Continued
NFL calls on the U.S. Supreme Court to maintain control over sports betting and criticizes forecasting markets
The NFL backed New Jersey regulators before the U.S. Supreme Court in their dispute with Kalshi over sports-related predictive market contracts. The league claims they look like gambling and warns of risks of manipulation, insider trading and lack of age controls. *** The NFL filed a brief in support of New Jersey regulators in their court dispute with Kalshi and called for states to maintain authority over sports betting. The league noted that …
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