⚖️ US Lawmakers Urge Supreme Court to Rule on Kalshi Prediction Markets
The National Council of Legislators from Gaming States (NCLGS) has filed an amicus brief with the US Supreme Court, supporting New Jersey’s push to regulate the prediction market platform Kalshi. This legal battle centers on whether individual states or federal agencies like the CFTC have jurisdiction over event contracts.
Lawmakers argue that if Kalshi operates outside state regulation, it could undermine existing gaming laws and cause substantial harm. They claim that allowing federal preemption would leave states powerless to oversee betting activities on these platforms, potentially forcing a total reconsideration of state regulatory regimes.
#Kalshi #SCOTUS #Regulation #PredictionMarkets
The National Council of Legislators from Gaming States (NCLGS) has filed an amicus brief with the US Supreme Court, supporting New Jersey’s push to regulate the prediction market platform Kalshi. This legal battle centers on whether individual states or federal agencies like the CFTC have jurisdiction over event contracts.
Lawmakers argue that if Kalshi operates outside state regulation, it could undermine existing gaming laws and cause substantial harm. They claim that allowing federal preemption would leave states powerless to oversee betting activities on these platforms, potentially forcing a total reconsideration of state regulatory regimes.
#Kalshi #SCOTUS #Regulation #PredictionMarkets