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NJ asks Supreme Court to decide if prediction markets should face state gambling laws

Market News
02 Sep 2026
New York Post
View Source
Bearish
pluang ai news

New Jersey's Attorney General has asked the U.S. Supreme Court to review whether prediction markets like Kalshi and Polymarket should be regulated under state gambling laws rather than only federal oversight by the Commodity Futures Trading Commission. This follows conflicting court rulings, with some courts siding with states that want to regulate prediction markets as sportsbooks, while others uphold federal exclusivity. The Supreme Court's decision could significantly impact the rapidly growing prediction market industry, which handles billions in weekly trading volume and currently allows users 18 and older to participate. A ruling is expected next summer if the Court agrees to hear the case this fall.

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