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NFL asks US Supreme Court to back New Jersey in Kalshi case
The NFL told the court that NFL-linked prediction markets accounted for more than half of trading volume on the season’s first Sunday, about $1.8 billion of $3.3 billion.
Cointelegraph reports that the NFL filed an amicus brief with the US Supreme Court on Wednesday, urging the justices to grant a petition in support of New Jersey officials’ case involving prediction market company Kalshi.
The filing responded to a petition from New Jersey Attorney General Jennifer Davenport and gaming enforcement interim director Mary Jo Flaherty, and the dispute centers on whether prediction market companies fall under state authority or federal agency jurisdiction.
In its brief, the NFL argued that the case involves how sporting event contracts are labeled on prediction platforms as “swaps,” and it asked the court to act to preserve game integrity and protect customers.
The NFL cited data showing that on the first Sunday of the football season, more than half of all prediction markets trading volume, about $1.8 billion of $3.3 billion, was tied to the NFL, and it said these bets pose the greatest integrity threats because many can be manipulated by a single person.