New Jersey asks US Supreme Court to assess power to regulate sports bets on Kalshi

New ​Jersey ​authorities on ‌Wednesday asked ​the U.S. Supreme Court ‌to resolve whether states have the power to ‌police sports betting that ‌occurs on prediction markets operated by Kalshi and competing ⁠platforms.

The ​state ⁠asked the Supreme Court to ⁠overturn a lower court's ​decision in April holding ⁠that the U.S. Commodity Futures ⁠Trading ​Commission has exclusive jurisdiction over the ⁠sports-related event contracts that Kalshi ⁠allows ⁠people to trade on its platform.