[New Jersey Petitions U.S. Supreme Court to Rule on Business Classification of Platforms like Kalshi]
New Jersey has submitted a petition to the U.S. Supreme Court, requesting a legal determination on the sports event betting operations of prediction market platforms like Kalshi, to assess whether they constitute illegal sports gambling. New Jersey Attorney General Davenport has called on the Supreme Court to resolve jurisdictional disputes. Currently, at least 20 states, numerous tribes, and casinos have united in opposition to prediction market platforms, advocating for regulation under state gambling laws. (Source: Bloomberg)
