NEW JERSEY ASKS SUPREME COURT TO SETTLE PREDICTION MARKET JURISDICTION

Summary from the TLDR Crypto newsletter

New Jersey's Attorney General filed a 332-page petition asking the Supreme Court to review a Third Circuit ruling that favored Kalshi in the state's cease-and-desist dispute over sports event contracts. New Jersey argues states retain authority over gambling law, and Kalshi says it can't be regulated by "50 different regulators." This comes amid a broader nationwide fight between states and the CFTC, which claims exclusive jurisdiction. Kalshi recently lost a related case in Nevada at the Ninth Circuit.