40 State AGs Back New Jersey's Supreme Court Cert Bid on Kalshi Markets

A bipartisan group of 40 state attorneys general has filed an amicus brief in the U.S. Supreme Court supporting New Jersey's petition for certiorari in a case asking whether prediction market operator Kalshi may offer sports betting contracts without state gaming authorization. The filing signals unusually broad state interest in how far federal commodities-market authority reaches into sports betting, and it places a large coalition of regulators behind one state's procedural push to have the question heard.

If the Court grants review, the case becomes a significant test of the federal-state line for event contracts, with implications for prediction market operators, sportsbooks seeking distribution or partnership agreements, payments and data providers, and gaming regulators. If cert is denied, the state-law landscape continues to develop in the lower courts and through agency channels, and the substantive question could return to the Supreme Court later. Counsel should watch the docket for a grant-or-deny order; the timing and outcome of that decision are not established by this filing, and parallel lower-court and regulatory proceedings may proceed independently.