New Jersey asks US Supreme Court to assess power to regulate sports bets on Kalshi

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Sept 2 : New Jersey authorities on Wednesday asked the U.S. Supreme Court to resolve whether states have the power to police sports betting that occurs on prediction markets operated by Kalshi and competing platforms.

The state asked the Supreme Court to overturn a lower court's decision in April holding that the U.S. Commodity Futures Trading Commission has exclusive jurisdiction over the sports-related event contracts that Kalshi allows people to trade on its platform.

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