The NFL has asked the U.S. Supreme Court to decide whether sports prediction markets should be regulated by federal authorities or by the states. The league views the contracts as a form of betting and warns of risks to consumers and game integrity.
The NFL filed a brief supporting New Jersey’s petition, arguing that states should be able to regulate contracts tied to sporting events. The league says these products are gambling, not financial swaps overseen by the federal Commodity Futures Trading Commission.
The Supreme Court was asked to take up the issue before the NFL season ends in January. At least 10 states are already involved in litigation, arguing that the platforms offer wagers subject to state law. The CFTC maintains that federal regulators have exclusive jurisdiction over prediction markets.
A source close to the NFL told CBS News that the league had asked platforms and the CFTC to prohibit contracts vulnerable to manipulation and insider trading, and to raise the minimum user age from 18 to 21. The league has questioned whether the federal agency has enough staff and resources to oversee the field.
Kalshi said the CFTC already polices sports-related markets and that proposed rules address many of the NFL’s concerns. Polymarket said it uses market-surveillance tools and is working on a federal regulatory framework. Both platforms argue that a national approach would be more consistent than a patchwork of state laws.