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CoinDesk3h ago

NFL, Gensler and Dodd back state control of prediction markets before SCOTUS

The U.S. Supreme Court has not yet indicated whether it will hear the fight over sports-based prediction-market contracts, but a wave of amicus briefs filed last week urges it to take the case. Chris Dodd, Gary Gensler, the NFL, 39 states plus D.C., 145 tribal nations and gambling-industry groups all filed briefs, most arguing that sports prediction contracts are not swaps and belong under state gambling law rather than CFTC oversight. The case sits atop a circuit split: the Sixth and Eighth Circuits ruled Kalshi's sports contracts fall under state gaming regulation, while the Third Circuit backed CFTC jurisdiction. On the same Friday, the CFTC issued two proposals — one an interim final rule now in effect — asserting that event contracts like Kalshi's are swaps subject to agency oversight.

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