A group of lawmakers from U.S. gambling states urges the Supreme Court to take up the Kalshi case

Odaily reports: The National Council of Legislators from Gaming States (NCLGS) has filed an amicus brief with the U.S. Supreme Court in support of the New Jersey Attorney General and gambling regulators' petition to hear their case against prediction market platform Kalshi. The petition seeks to clarify whether state governments or federal agencies have jurisdiction over prediction market companies.

NCLGS stated that if the ruling favors Kalshi, states would be unable to regulate sports betting within prediction markets, potentially leading to regulatory confusion. The council believes that gambling-related matters should be handled by state regulators, and noted that casinos and other regulated entities may adjust their operations and products accordingly.

New Jersey authorities filed a petition for a writ of certiorari on September 2, stemming from their appeal of a Third Circuit Court of Appeals ruling. Kalshi has not yet formally responded and must submit its position brief by November 9; the company has previously stated that it cannot be regulated separately by 50 different regulators. (Cointelegraph)