New Jersey SCOTUS Petition on Prediction Markets Creates Circuit Split
New Jersey seeks Supreme Court review of Ninth Circuit prediction market ruling, highlighting Dodd-Frank preemption and circuit split with Third Circuit.
New Jersey filed a petition last week asking the Supreme Court to review a Ninth Circuit ruling on sports contracts tied to prediction markets.
The filing asks whether the Dodd-Frank Act overrides state gambling rules when the products trade on designated contract markets.
The petition notes a circuit split created by the Ninth Circuit decision conflicting with an earlier Third Circuit ruling.
Next procedural steps
The Supreme Court has about 90 days to decide whether to grant certiorari. Kalshi may file a response within 30 days of the petition.
Open questions
It remains unknown whether the Court will grant review. No timeline or outcome on the merits is available if review is granted.