NFL TELLS SUPREME COURT PREDICTION MARKET SPORTS CONTRACTS ARE GAMBLING, NOT SWAPS

Summary from the TLDR Fintech newsletter

The NFL urged the Supreme Court to review whether sports prediction contracts such as Kalshi's should be regulated as gambling by states or as swaps under exclusive CFTC jurisdiction, arguing that Dodd-Frank was not intended to federalize sports betting. The dispute has produced conflicting appeals-court rulings, while Kalshi argues its markets are federally regulated and protected by existing integrity controls, setting up a potentially important Supreme Court test of prediction-market regulation.