Sept 2 : New Jersey authorities on Wednesday asked the U.S. Supreme Court to resolve whether states have the power to police sports betting that occurs on prediction markets operated by Kalshi and competing platforms.The state asked the Supreme Court to overturn a lower court's decision in April holding that

A three-judge panel for the Ninth Circuit—a federal appeals court—ruled that Nevada can enforce its gambling laws against Kalshi.

The U.S. Supreme Court now sees a circuit split over sports prediction markets. History suggests that makes it more likely it will review the topic.

New Jersey is asking the Supreme Court to weigh in on whether sports-event contracts should be regulated at the state or federal level.