After multiple appeals courts ruled differently about whether states can crack down on prediction markets' sports products, New Jersey asked SCOTUS to step in.

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 has until Thursday to ask the U.S. Supreme Court to review a Third Circuit decision protecting Kalshi's sports event contracts.

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