NFL Files Court Appeal Supporting New Jersey-Regulated Prediction Platform Kalshi

On October 9, according to Cointelegraph, the National Football League (NFL) filed an amicus curiae brief with the U.S. Supreme Court on Wednesday, explicitly supporting the lawsuit brought by New Jersey officials against prediction market platform Kalshi. The core dispute in the case revolves around whether jurisdiction over prediction market companies should fall under state regulators or federal authorities.

The NFL states in its brief that sports event contracts on platforms like Kalshi carry a high risk of manipulation, which could undermine the integrity of the games. Data cited by the league indicates that on the first Sunday of the NFL season, more than half of the total trading volume on these prediction markets (approximately $180 million out of a total of about $330 million) was related to the NFL. The NFL warned that once insider information leaks, whether due to unusual player performance, team roster changes, or referee officiating errors, it could lead to serious consequences.

In light of the current regulatory environment, the NFL criticizes the Commodity Futures Trading Commission (CFTC) for failing to provide adequate protective measures. The NFL asserts that these high-risk sports wagering markets should be subject to strict federal oversight to resolve inconsistencies in how state laws are enforced.