NFL Contends Prediction Markets Should Be Regulated as Gambling
The U.S. Supreme Court is currently reviewing the classification of prediction markets involving sports as gambling, with the NFL actively participating in the case.
The league has filed a brief in support of the dispute between Kalshi and New Jersey, asserting that prediction markets should be regulated at the state level. This issue hinges on whether these markets fall under the jurisdiction of the Commodities Futures Trading Commission, which would allow them to operate nationwide without state restrictions.
The NFL's stance is not a blanket opposition to prediction markets, contrasting with its previous resistance to legalized sports betting. The league has expressed concerns regarding the lack of regulations on potentially manipulable bets and age restrictions. Should the prediction markets prevail in court, the NFL may adapt its position similarly to its response following the Supreme Court's decision on sports betting in 2018.
