The National Football League (NFL) filed an amicus curiae brief with the U.S. Supreme Court against KalshiEX LLC, supporting New Jersey regulators. The NFL argues that sports prediction markets function as traditional gambling rather than legitimate financial derivatives or swaps under the exclusive jurisdiction of the CFTC.
The legal battle emerges amid a surge across the sector, where NFL events accounted for nearly $2 billion in trading volume during a single Sunday slate. While leagues like MLB and the NHL have formalized commercial partnerships with operators such as Polymarket and Kalshi, the NFL is seeking to halt contracts tied to specific in-game plays or player injuries, warning of risks to competitive integrity and match manipulation.
The Supreme Court’s decision will determine whether these platforms operate nationwide under the federal oversight of the CFTC or submit to state-level gambling statutes. The high court is expected to decide in the coming days whether to take up the case and establish the definitive legal framework.
Source: https://www.supremecourt.gov/DocketPDF/26/26-299/428826/20261008053543625_NFL%20Amicus%20Brief.pdf
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