NFL urges Supreme Court to rule prediction markets are gambling apps
The National Football League is urging the Supreme Court to recognize prediction markets as gambling apps, joining a New Jersey challenge to have Kalshi face stricter regulations from the states.In an amicus brief supporting New Jersey and nearly 40 other states, the NFL argued that prediction platforms offering sports bets are effectively operating as gambling platforms and should be regulated as such, CNBC reported.On the first Sunday of the season, football accounted for $1.8 billion in prediction markets trading – more than half the total volume, the football league claimed.The NFL’s amicus brief marks the latest twist in the heated battle to impose tighter restrictions on popular prediction platforms Kalshi and Polymarket — such as an age minimum of 21 and state taxes, like all other gambling platforms and casinos. The apps are currently regulated as securities trading by the Commodity Futures Trading Commission, an approach critics have described as a loophole for the companies to evade gambling taxes and penalties, as well as to allow teens as young as 18 to place sports bets.In its filing, the NFL said it is not opposed to prediction markets – but that they would be better regulated by the states, especially since the platforms are exposed to insider trading concerns.The league said it is concerned about price manipulation, since a kicker could intentionally miss a field goal or a wide receiver could purposely fumble a pass to affect the outcomes of specific prediction markets.It added that bets about injuries and officiating are also vulnerable to insider trading. The NFL said it wants a minimum age of 21 for sports bettors, the same as standard sportsbooks rules.A spokesperson for Kalshi pushed back on the NFL’s claims, arguing they have consistently tried to engage with the league but have never heard back.“Kalshi’s top priority is the integrity of its markets.
That priority is reflected in the fact that every other major sports league an...