Sports Betting

CFTC

2026-10-09 19:47:56

CFTC issues interim final rule excluding casino-style betting products from swap definition

The U.S. Commodity Futures Trading Commission on Thursday issued an interim final rule that formally excludes casino-style gambling products, including sports betting and casino games, from the definition of swaps. CFTC Chair Michael S. Selig said such products are not derivatives, and described the move as a clarification of the boundaries of the agency’s regulatory authority. According to the CFTC news release cited by Techub, the rule will take effect immediately after publication in the Federal Register. The agency will also open a 30-day public comment period following publication. The action sets out the CFTC’s position that these gambling-style products fall outside the swap framework, while leaving room for public feedback during the comment window.

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NFL

2026-10-08 18:06:41

NFL joins states, Gensler and Chris Dodd in Supreme Court fight over prediction market oversight

The National Football League has entered the legal battle over who should regulate sports-related prediction markets, filing an amicus brief with the U.S. Supreme Court in support of state gambling regulators rather than the Commodity Futures Trading Commission. The filing places the league alongside state governments, tribal interests, former CFTC Chair Gary Gensler and former Senator Chris Dodd, one of the authors of the Dodd-Frank Act, in opposing the view that federally regulated exchanges such as Kalshi and Polymarket fall solely under CFTC authority. The dispute has sharpened after conflicting federal court rulings. One court backed Kalshi’s argument that the CFTC is its exclusive regulator, while two others sided with states that say sports betting remains subject to local gambling laws. New Jersey has asked the Supreme Court to take the case and settle the split. In its filing, the NFL said it had raised concerns with the CFTC about sports wagering practices on prediction platforms but did not get the response it wanted. The league argued that current federal oversight is weaker than state gaming regulation, pointing to risks around game integrity, consumer protection, underage betting and the agency’s staffing capacity. The CFTC rejected that characterization, saying it has engaged with the NFL since the beginning and calling it unfortunate that the league did not secure an arrangement that could have improved cooperation and information sharing.

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NFL

2026-10-08 11:11:55

NFL tells Supreme Court sports contracts on prediction markets are gambling and should be regulated by states

The National Football League has asked the U.S. Supreme Court to take up a dispute over whether sports event contracts listed on prediction markets should be treated as gambling under state law or as swaps under the exclusive jurisdiction of the Commodity Futures Trading Commission. In an amicus brief filed Oct. 8, the league backed the New Jersey Division of Gaming Enforcement’s appeal in its case against Kalshi, arguing that state regulators and licensed sportsbooks already operate with guardrails designed to protect game integrity, while prediction market platforms do not face the same restrictions. The filing says that on the first Sunday of the current NFL season, $1.8 billion of the prediction market’s $3.3 billion total trading volume was tied to NFL games. The league also pointed to staffing disparities, saying the CFTC has 543 employees nationwide, while gaming regulators in Nevada and Pennsylvania each have nearly 400 staff. NFL said Kalshi has not worked with the league on compliance issues, and told CNBC that neither the CFTC nor prediction market operators bar easily manipulated bet types or impose a minimum age of 21. The case, docketed as No. 26-299, comes as federal appeals courts have split on whether Kalshi’s sports event contracts meet the statutory definition of swaps. Kalshi’s response is due Nov. 9, and the Supreme Court has not yet decided whether it will hear the case.

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NFL

2026-10-09 10:01:06

NFL asks U.S. Supreme Court to review whether Kalshi sports contracts are gambling or swaps

The National Football League has asked the U.S. Supreme Court to step into a growing legal fight over sports event contracts listed on prediction markets, arguing that the products are gambling rather than swaps under federal derivatives law. In an amicus brief filed Thursday, the league backed New Jersey officials seeking review in Flaherty v. KalshiEX after the Third Circuit sided with Kalshi. The NFL said billions of dollars are expected to be wagered on its games through prediction markets each season and warned that delay would increase consumer harm and threaten game integrity. The dispute turns on whether Kalshi’s sports contracts fall under the Dodd-Frank Act and therefore under the Commodity Futures Trading Commission’s exclusive jurisdiction. The Third Circuit said yes, while the Sixth and Ninth Circuits reached the opposite result. The NFL argued that swaps are meant to hedge existing risk, not create risk for gambling purposes. It also pointed to market activity, saying $1.8 billion of the $3.3 billion traded across prediction markets on the first Sunday of the NFL season was tied to NFL outcomes. Kalshi pushed back, saying market integrity is its top priority and that it works with other major U.S. sports leagues and integrity partners, including Major League Baseball and the NHL. Former CFTC Chair Gary Gensler and former Sen. Chris Dodd also filed briefs, each arguing that Congress did not hand sports betting oversight from states to the CFTC.

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Kalshi

2026-09-05 07:44:54

Kalshi Says CFTC to Rewrite Rules in Weeks or Months, New Jersey Seeks Supreme Court Review of Sports Betting Regulation

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.

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PPP Predictio

2026-09-05 07:11:28

New Account Bets $66,000 on TES Victory Over IG in LPL Playoffs

A newly created wallet address purchased $66,000 worth of shares predicting TES would defeat IG in the LPL playoffs, according to PPP prediction market monitoring. The account bought 117,857.2 shares at an average price of 56.6 cents. The match is Game 1 of the lower bracket in the LPL Third Stage playoffs, a BO5 single-elimination format. The loser is eliminated, while the winner proceeds to fight for higher points and World Championship opportunities. The match started at 14:00 on September 5, and IG currently leads 1-0. PPP also offers a signal push community for users.

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Kalshi

2026-09-03 09:30:33

Michigan judge issues preliminary injunction against Kalshi over sports betting contracts

A judge in Ingham County, Michigan, has issued a preliminary injunction against prediction market platform Kalshi, ordering it to stop offering sports-betting-related contracts to state residents, according to Decrypt. Judge Rosemarie Aquilina said the business amounted to sports betting “disguised as an investment opportunity.” Under the order, Kalshi must block in-state users through a third-party geolocation service approved by Michigan’s betting regulator or face a $500,000 daily fine. The injunction also bars the company from allowing Michigan residents to open accounts, make deposits, place ads, or use products that resemble sports betting until a final ruling is reached.

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New Jersey

2026-09-03 04:22:05

New Jersey Asks U.S. Supreme Court to Review Kalshi Fight Over Sports Event Contracts

New Jersey has petitioned the U.S. Supreme Court to review its dispute with prediction market platform Kalshi, asking the justices to clarify whether a Commodity Futures Trading Commission-regulated venue can offer sports event contracts nationwide without complying with state gambling laws. The filing, submitted on Sept. 2 Eastern Time, centers on whether these products are federally regulated derivatives under the Commodity Exchange Act or effectively sports betting subject to state oversight. The move comes after a split between two federal appeals courts: the Third Circuit previously sided with Kalshi in a preliminary injunction dispute involving New Jersey, while the Ninth Circuit ruled on Aug. 28 in a separate Nevada case that Kalshi had not shown federal law preempted state gambling rules. New Jersey said the conflict has already drawn at least 20 states into litigation and warned that allowing CFTC-registered markets to bypass state licensing, age limits and consumer safeguards could rewrite the long-standing U.S. state-based gambling framework.

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