The NFL is urging the Supreme Court to rule on prediction markets like Kalshi and Polymarket

The NFL is urging the Supreme Court to rule on the regulation of prediction markets after the league accounted for $1.8 billion in trading volume on the first Sunday of this season alone, arguing that states are better positioned to oversee sports-related contracts “given the current landscape.”The NFL filed a brief Thursday in support of New Jersey’s request for a high court decision on the governing authority for prediction markets, which provide an opportunity to trade — or wager — on the result of future events.The U.S. Commodity Futures Trading Commission has maintained it has exclusive jurisdiction, while states have argued that the array of typically yes-or-no questions on prediction markets is akin to gambling and falls under their purview.“Absent the clarity that only this Court can provide, (prediction market) operators will continue exploiting the gap between state and federal regulation, endangering consumers and the integrity of sports events across the country,” lawyers for the NFL wrote.According to the NFL’s brief, on the first Sunday of this season, more than half the trading volume on prediction markets — $1.8 billion out of $3.3 billion total — was connected to …