Kalshi has not filed its response to the Supreme Court for New Jersey's September 2 petition. New Jersey is asking the high court to decide whether states can regulate sports betting offered by CFTC-registered exchanges, an issue that has created a split between the Third and Ninth Circuits. Kalshi CEO Tarek Mansour stated that the CFTC will rewrite rules under Rule 40.11 within weeks or months. Kalshi's litigation lead Jovy Dedaj and spokesperson Dani Lever also said the Ninth Circuit's decision relied on the ongoing rule rewrite. The CFTC proposed in June to replace the blanket ban on gaming contracts with a case-by-case public interest test, classifying sports as gaming but allowing most outcomes and special wagers. After Kalshi's response, New Jersey can reply in 10 days, and the Supreme Court typically meets about a month later to review.
Prediction market platform Kalshi has not yet filed its response to the U.S. Supreme Court, with a 30-day deadline for its reply to New Jersey's September 2 application. New Jersey is asking the Court to decide whether states can regulate sports betting offered by exchanges registered with the Commodity Futures Trading Commission (CFTC), a question on which the Third and Ninth Circuit Courts of Appeals have split.
Kalshi CEO Tarek Mansour said the CFTC will issue new rules in the coming weeks or months to further clarify Rule 40.11. Kalshi's litigation lead Jovy Dedaj and spokesperson Dani Lever also noted that the Ninth Circuit's ruling was largely based on regulatory provisions that are currently being rewritten. The CFTC proposed in June replacing the blanket ban on gaming contracts with a case-by-case public interest review, under which sports events would be classified as gaming, but most contest outcomes and special wager contracts could still be permitted.
After Kalshi files its response, New Jersey will have 10 days to reply, and the Supreme Court typically holds a conference about a month later to consider the case. (Source: Bitcoin.com News)
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