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

The NFL has filed a brief with the U.S. Supreme Court siding with states and tribal governments in the fight over whether prediction-market sports contracts fall under state gambling law or the CFTC. It joins former SEC chair Gary Gensler and former Sen. Chris Dodd, co-author of the Dodd-Frank Act, who argue Congress never intended to give the CFTC sole authority over sports betting.

The filings escalate the case toward a definitive ruling after the Sixth Circuit found Kalshi's sports-related contracts are not swaps and thus subject to state gaming regulation — backing the Eighth Circuit — while the Third Circuit sided with CFTC jurisdiction. New Jersey has asked the high court to resolve the split.

• The NFL said the CFTC left sports-wager practices that "pose real challenges to game integrity and consumer protection" unaddressed.
• Kalshi disputes the league's account, saying it has repeatedly tried to collaborate on market integrity "with no response," and noted its partnerships with MLB and the NHL.