NFL urges Supreme Court to decide if feds or states should regulate prediction markets

The National Football League is urging the Supreme Court to decide whether the federal government or U.S. states should have legal authority to set the rules for prediction markets.

The NFL filed its brief the day after a bipartisan coalition of states made a similar plea to the Supreme Court, asking it to resolve the regulatory dispute over prediction markets.

Prediction markets are regulated by the Commodity Futures Trading Commission, a federal agency that oversees derivative markets, among other areas. However, at least 10 states have taken legal action against prediction market platforms, alleging that the sports contracts they offer constitute gambling and should be subject to state law.

In an email to CBS News, the league source said it is unclear whether the CFTC has the resources or staff to regulate sports betting, a concern echoed by some legal experts.

A Kalshi spokesperson said the company's priority is the integrity of its markets.

A Polymarket spokesperson told CBS News in an email that the company has built advanced market surveillance tools and is working with the CFTC and the Securities and Exchange Commission to develop a regulatory framework that it believes would be stronger than state laws.

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