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Home›Global Markets›Trade & Tariffs›New Jersey asks Supreme Court to weigh in on predictio…

New Jersey asks Supreme Court to weigh in on prediction markets

The state is seeking Supreme Court review after a federal appeals ruling left the legality of sports-event prediction contracts in question.

Reported · Written up by our desk · Trade & Tariffs

New Jersey has filed a petition asking the U.S. Supreme Court to take up the regulation of prediction markets that offer sports-event contracts, according to CNBC Markets.

The move follows inconsistent legal outcomes, with prior appeals court decisions diverging on whether states can crack down on these products, the reporting said.

CoinDesk also notes that the petition arrives after a key ruling from the 9th U.S. Circuit Court of Appeals on sports-event contract authority and related enforcement questions.

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Sources

CNBC MarketsNew Jersey asks the Supreme Court to take on prediction markets
CoinDeskNew Jersey becomes first state to ask Supreme Court to weigh in on prediction markets

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