New Jersey Supreme Court Petition on Prediction Markets as Gambling
New Jersey has asked the US Supreme Court to let states classify prediction markets like Kalshi and Polymarket as gambling after two years of legal challenges.
New Jersey petitioned the US Supreme Court on Wednesday to allow states to classify prediction markets such as Kalshi and Polymarket as gambling under state law.
The filing marks the first time the issue reaches the Supreme Court after two years of litigation between the state and the platforms.
Open questions
No Supreme Court decision or timeline has been issued. The scope of any potential ruling remains unknown.