New Jersey Officials Petition US Supreme Court over Prediction Markets
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By Turner Wright, Staff Writer, Reviewed by Sam Bourgi, Staff Writer
New Jersey officials have taken a significant step in the ongoing debate over prediction markets and their regulation. The state’s Attorney General and gaming authorities have filed a petition with the US Supreme Court, seeking clarification on jurisdiction regarding prediction market companies like Kalshi.
On September 2, 2026, Jennifer Davenport, Attorney General of New Jersey, along with Mary Jo Flaherty, interim director of the Division of Gaming Enforcement, submitted a petition for a writ of certiorari to the US Supreme Court. The petition centers around Kalshi’s offering of sporting event contracts to residents, despite potential conflicts with state laws and regulations.
Key Points:
- New Jersey authorities argue that prediction market companies, such as Kalshi, should not operate outside of state gambling laws, even if they register with the Commodity Futures Trading Commission (CFTC).
- The petition challenges a previous ruling by the US Court of Appeals for the Third Circuit, which sided with Kalshi’s claim that federal law preempts state regulations.
- New Jersey officials believe that a victory for Kalshi could lead to illegal sports gambling off CFTC-registered markets in all 50 states.
- Kalshi, however, disagrees and maintains that it should not be regulated by multiple states simultaneously.
This development marks a crucial moment in the legal battle surrounding prediction markets and their place in the US gaming landscape. The US Supreme Court’s decision will have far-reaching implications for both the industry and state authorities.