New Jersey asks Supreme Court to resolve fight over Kalshi's future

If the high court accepts the petition, it would tee up a case with sweeping implications for prediction markets, an industry that has unleashed billions of dollars of betting across nearly every aspect of modern life.

The petition comes after a key ruling from the 9th U.S. Circuit Court of Appeals on sports-event contracts.

New Jersey asked the Supreme Court on Wednesday to weigh in on a growing legal battle between prediction markets and states over who has the authority to regulate the platforms. It marks the first time that the dispute, which has resulted in conflicting decisions at the appellate level, has been raised to the justices.

FILE PHOTO: Kalshi logo is seen in this illustration taken, August 3, 2026. REUTERS/Dado Ruvic/Illustration/File Photo 03 Sep 2026 12:01AM Sept 2 : New Jersey authorities on Wednesday asked the U.S. Supreme Court to resolve whether states have the power to police sports betting that occurs on prediction markets operate