NFL Urges Supreme Court to Allow State Regulation of Prediction Markets, Clashing With Trump Administration

The National Football League asked the U.S. Supreme Court to permit state regulation of prediction markets, setting it against the Trump administration in a high-stakes legal fight over oversight of the fast-growing industry. In a filing Thursday, the NFL told the justices that federal regulators' "laissez-faire" approach could let "unscrupulous actors" trade on inside information and harm game integrity. The league backed a pending appeal by New Jersey regulators in a clash involving Kalshi Inc., whose contracts are at issue in Flaherty v. KalshiEX, 26-299. The NFL, which has held off alliances with prediction markets, is the only major professional sports league to weigh in so far. President Donald Trump has embraced the industry, saying in May he backs the Commodity Futures Trading Commission as sole regulator. The case turns on whether such contracts are "swaps" under the 2010 Dodd-Frank Act. The justices could decide as soon as December whether to hear the case.