New Jersey Asks Supreme Court to Decide Who Regulates Prediction Markets

New Jersey Attorney General Jennifer Davenport filed a 332-page petition on September 2 asking the U.S. Supreme Court to review a ruling that federal commodities law overrides the state’s gambling regulations as applied to Kalshi’s sports-event contracts. The filing puts the dispute over who regulates prediction-market sports contracts before the high court after two federal appeals courts reached opposing conclusions. The Block reported the petition was filed one day before New Jersey’s extended deadline.

New Jersey files certiorari petition

The case is docketed as Flaherty v. KalshiEX. New Jersey is seeking Supreme Court review of the Third Circuit’s April decision in favor of Kalshi, rather than a review of a state gambling enforcement action on its own terms.

The Supreme Court had granted the state an extension on July 24, moving its deadline to September 3. The Court’s docket records that procedural order, but a petition does not by itself mean the Court will take up the case. The Supreme Court docket identifies the extension and the case caption.

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